Part 2: Sideways @ Worst to May 25, 2019; Could Continue Higher
Will keep you updated as May 25th approaches. I'll post another chart shortly to see the POSSIBLE lowest and highest price till May 25th before possible 20 to 30 percent dip before continuing up.
Comment:
I currently see us continuing sideways within a relatively tight trading range until the May 25th to May 29th date range IF THE PRICE ACTION IS TO FOLLOW UP WITH A DOWNWARD PUSH. However, we still have a chance for continued upward pressure until then. So, if the price action does rise significantly between now and the May 25 to 29 date range, that date range could change as a result of a significant upward move affecting the movement of the indicator lines in multiple time frames.
Comment:
I currently see us continuing sideways within a relatively tight trading range until the May 25th to May 29th date range IF THE PRICE ACTION IS TO FOLLOW UP WITH A DOWNWARD PUSH. However, we still have a chance for continued upward pressure until then. So, if the price action does rise significantly between now and the May 25 to 29 date range, that date range could be "extended" as a result of a significant upward move affecting the movement of the indicator lines in multiple time frames.
The Litecoin Block Halving is playing a major role in the length of time of this current bull run. The fact we have 75% less bitcoin on exchanges than we did back in 2017 is an additional reason for this current bull run continuing to late June or mid July. Less Bitcoin on the exchanges will decrease the affect "supply" will have in its conflict with demand. We have a LOT of people who did not accumulate coins at lower levels.
Some are still waiting for a significant dip to accumulate coins and will likely end up surrendering to FOMO as the price continues stair stepping higher. As the price continues higher it makes the position of those who buy at higher prices "weaker." They feel less secure in their position at the higher price they paid to accumulate. Hence, the term "Weak Hands." We don't have enough "Weak Hands" in the market yet for a significant dump in my opinion. However, the number of "Weak Hands" will increase over time.
The Litecoin Block Halving is playing a major role in the length of time of this current bull run. The fact we have 75% less bitcoin on exchanges than we did back in 2017 is an additional reason for this current bull run continuing to late June or mid July. Less Bitcoin on the exchanges will decrease the affect "supply" will have in its conflict with demand. We have a LOT of people who did not accumulate coins at lower levels.
Some are still waiting for a significant dip to accumulate coins and will likely end up surrendering to FOMO as the price continues stair stepping higher. As the price continues higher it makes the position of those who buy at higher prices "weaker." They feel less secure in their position at the higher price they paid to accumulate. Hence, the term "Weak Hands." We don't have enough "Weak Hands" in the market yet for a significant dump in my opinion. However, the number of "Weak Hands" will increase over time.
Comment:
Well, we did not stay up till the 3rd caution dot. It ended up being similar to the couuple of times I should in history with only one or two caution dots in the 4-Day time frame. It's POSSIBLE we go down to the $6,149 FIB then shoot right back yup again.
Comment:
WOW... This is occurring ONLY on bitstamp at the moment. Binance still at 7100.
Comment:
This is sooooo weird Bitstamp is the only one to dump this deep this quickly. Coinbase, Binance, Bitfinex and Gemini still over $7,000
Comment:
In the following order: Bitstamp, Bitfinex, Coinbase & Gemini:
