BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Waiting for $50k then 20% drop.

This week we have seen 2x dips as the market tries to shake off traders before the next move up. I've tweaked my analysis and I'm expecting a 3rd drop as target was not reached. Note that trend is indicative.

- My target has been $41k ($41,300)
- I suspected the 2nd dip might not reach target
- The $41k target remains but I see a number of traders now targeting $41k. I suspect a 10% chance of a deeper cut now into the high $30s ($37k)
- I think there will be further opportunity on ALTs but not such large gains as before - 20% (which is still a great day trading!) IOST, CAKE best gainers on 2nd dip vs. LINK, WAN, SXP .
- Expecting resistance line to break then shorts to be placed at $50k for the run on $40k.


My luck might have run out so take with a pinch of salt ;)

Best, Hard Forky


Comment: possible bull trap incoming
Comment:
Ready for the drop?
Comment: flat for a day between $47-$49k then I estimate Thursday / Friday as the time when BTC will hit target 3.

Comments

Interesting idea. Thanks for sharing
Reply
Alt season dead or still on?
Reply
@bed87, recess - they look cheap now but likely to go cheaper.
Reply
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