(More of a guess at this point, too little data.)
Be cautious of incoming correctional wave (downtrend).
(My latest estimates, given new/better data)
(My latest estimates, given new/better data).
Please be careful, it could be a "trap". I don't advise buying into BTC at this very moment. I prefer to wait for a slight correction.
We should see some small up-trends along the way down, but I don't consider it safe to consider any as a true upward rally, until we reach near my target.
Some upward movement during the down-trend is expected, as I mentioned.
Monitor the price movement for the next 15-25 minutes.
If there is still upward movement, then another Bull-run (upwards) is possible. Otherwise, another sharp dip could be coming. Always analyze periodically
I put that yellow box in the path of my line earlier, as I knew it would be a tough spot to break through.
We can only analyze the current situation, never predict the future with 100% accuracy
Overall to me, too much consistent upward climb to buy into BTC at this point. Do use your own judgement and analysis.
BTC @ 8160. Then more upward movement possible still.
Bulls still fighting to push price up, I saw it touch 9000 (for only a second). Probably just done for motivational reasons. :)
Likely done for motivation, breaking a mental barrier that will encourage new buyers to help support an upward price.
Most analysts also didn't predict this exact path to 9k, many agreeing that the sustained push was unnatural. But at least we got there :)
I do believe that Binance was a major factor.
Binance (the world's largest cryptocurrency exchange by trading volume) was down for 12-24hrs(?) which I believe caused us to miss the 9k target yesterday (weakened momentum).
My chart of today took into consideration yesterday's trajectory, but not Binance's return to the markets.
This likely caused the unexpected direct run to 9k
Will update with a chart in some minutes.
I don't recommend buying into BTC at this moment. Also, if you are able to trade into $USD, $USDT or $NBT (Nubits) (temporarily), now may be a good time to do so, to take some profits from this long run up.
If there will be any further breakout (upward push), it will likely be at that point.
When we get there, we will have a better idea of the next direction.
Unsuitable conditions to deduce anything immediately.
The price stops moving abruptly, yet the price jumps back on course right away once Binance is back online.
Likely BOTS are running ~90% of this $BTC trade volume. Predetermined path.
Rationalize, how much upward movement is needed to make a profit?
If you jump in at $9050, even if we get to $9200, that's only ~1% profit after exchange fees (@ High risk)
I recommend you SELL your BTC and Altcoins into $USD, $USDT or $NBT at this point (if you haven't yet).