I hate predicting timeframes. I was not going to publish this, but I thought what the hell - I will for fun.
Now, although this chart is a bullish prediction, I remain pretty NEUTRAL for a few reasons;
1) We have heavy resistance around 1115. We have failed to go through it 3 times already.
2) We just had a insane bullish run, people are wanting to take profits, and
3) Those who have not bought want to wait for a cheaper entry, especially after such a dramatic rise.
4) I just don't feel the momentum of a 25% rise in one day.
I am now holding BTC, but I won't relax until we push through 1115 with some decent volume.
Now, on with this chart:
It looks like it could be an inverted H&S. Usually after an inverted H&S, the price rises equal to the distance between the head and the neckline. In this case on the 15 chart, its about 262 points. I copied the line and pasted in two parts of the neckline. One in the centre, and one near the breakout point, and I made the distance between the tops of those bars a "target price range zone"
Like I said, I have never seen someone accurately predict time, but if the breakout point acts like a point of symmetry, then I would guess we would hit this target in about 24 hours.
*Disclosure: this chart could be complete BS, but we will find out. I would love to hear some feedback. Take care!
Now, although this chart is a bullish prediction, I remain pretty NEUTRAL for a few reasons;
1) We have heavy resistance around 1115. We have failed to go through it 3 times already.
2) We just had a insane bullish run, people are wanting to take profits, and
3) Those who have not bought want to wait for a cheaper entry, especially after such a dramatic rise.
4) I just don't feel the momentum of a 25% rise in one day.
I am now holding BTC, but I won't relax until we push through 1115 with some decent volume.
Now, on with this chart:
It looks like it could be an inverted H&S. Usually after an inverted H&S, the price rises equal to the distance between the head and the neckline. In this case on the 15 chart, its about 262 points. I copied the line and pasted in two parts of the neckline. One in the centre, and one near the breakout point, and I made the distance between the tops of those bars a "target price range zone"
Like I said, I have never seen someone accurately predict time, but if the breakout point acts like a point of symmetry, then I would guess we would hit this target in about 24 hours.
*Disclosure: this chart could be complete BS, but we will find out. I would love to hear some feedback. Take care!