1. Psychological will be broken, contraction will lead to the sharp decline and price will move to the triangle again, status supports this scenario. However it will be the last time because the price reached a right vertex of the triangle. Most likely that the price will break it upward again and there should be a huge increase which will bring the price up. So there are possibilities to short BTC
2. Psychological will hold the pressure and contraction will lead to significant rise till Fib 0.618 where a consolidation will start which will finish a new pattern. In case of this scenario BTC will reach Fib 0.5 which is around $12 600.
Conclusion: Probabilities of scenarios are 60% and 40%, moreover we have already opened a long position, that is why we are neutral to these movements and we are going to hold BTC .
If you like risk and have BTC try to short it, but if you are a risk averse person just hold
If you wait till the good moment to enter then just wait till uncertainty will end and the which like a magnet pulls the price will be passed.
Alt trades are risky now, so be careful, when there will be good trade opportunities we will provide you with profitable signals.
In previous analysis we forecasted 2 scenarios of BTC price movement. The most probable was the 1st as it has 60% probability
Now we can see that the price follows this scenario. Fib 0.786 didn’t hold and price is going up. It seems like the price stuck at this level and slow growth will start after passing through triangle. Till this moment the price can again go into it.
All trades are very risky, especially Alt trades. We recommend you to use scalping swing trade strategy 5-10 minutes deals, positions longer are very risky.
Look how accurately the price followed or analysis and touched the point where arrows intersect. The price is in the triangle again as it was predicted. However it is at the exact moment where the rebound should start, MACD and Stoch RSI confirm it. Moreover Ichi Cloud changes to a bearish state for the next weeks.
The price has reached forecasted in the previous analysis point in the triangle from which there should be a bounce back. In case the price broke the triangle down there will be further decrease till the $5 100 level.
Conclusion: there are 2 scenarios again
1. There should be a rebound from the current moment above Fib 0.786 till the upper edge of Ichi cloud.
2. Further decrease till the Fib 1 and rebound from there or total crash of the market
Our analysts team always accurately forecasts BTC 0.88% price movement. We believe that the 1st scenario is more likely to happen. BTC 0.88% won't die this year, following months we will face another wave of cryptomana.
Sorry for misspelling :)
In a short period of time we expect a small decrease and retest of $7100 resistance level . It seems like it won't be broken and the price will move down again. It is still about time for market to recover and we should wait till the next wave of growth.