There are still too many who think we'll break $10,000 soon. I think we'll see one more drop again after the correction, so the Bulls should finally be bearish again and be scared. However, the current upmove could go to $9,700/9,600 before we see the drop in the $8,000 area. After that, the long-awaited break out of $10,000 should come. But it may take a few days until then.
Note: The targets may change over time, but I'll keep you posted.
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I just wanted to add that with a drop to about $8,500, most longs positions should be closed at a loss. This would cause people to wait for clear signals before they get in, such as after a break of $10,000. If they are too careful that it is not a fakeout, then in most cases we would go up to about $11,000 in a few days before the real drop comes.
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Should we turn back here, which is not unlikely and you have some positions open, then just wait. Most likely, it will then go up again in the same area.
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When you are at a position, wait until it turns again and sell. This will go lower after that.
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''When you are at a position, wait until it turns again and sell. This will go lower after that.''
Actually don't sell and wait. This can still go higher.
Has no idea what he is talking about. Just another Whale manipulator. Unfollowed
kinga176
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@Hazey_11, I think you’re dead on :)
Only been on trading view a short time.
Dodgy
BrettduPreez
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Thank you, makes sense. Do you know whats the situation with Bitcoin Cash? Its only 5 days until the fork now.
EWHALE
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@BrettduPreez,
Bitcoin Cash could rise during the correction of Bitcoin.
If it does not happen, then it should follow Bitcoin like all other altcoins.
We will see and decide.
ale408
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should it go up yet?
ParagonVenture
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Just finished Video explantion of price action, also added image with targets
deactivatedaccount123
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Be fearful when others are greedy,
Be greedy when others are fearful
Zsolt28
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Healthy reversal candles doesn't look like that.
EWHALE
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@Zsolt28,
Yes mostly will go sidewys and have one more $50-100 drop.
Zsolt28
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@EWHALE, I guess we may see further drop to the 8200-8500 area.