walekiller

Bitcon very bullish if stays above $10300

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
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Here is my short term Bitcoin analysis. I see a very clear repeated pattern.

I am on 3h chart and I see that the price pattern from July 2nd to today is very similar (almost identical) to that of June 27th to July 2nd. I showed the paired similarities with black arrows. As you know, after a sharp correction we see that cycles are getting longer and longer. We see the same pattern here. The first cycle (26-28 June) is shorter (faster) than the second cycle (28 June - 4 July) and the second one is shorter than the third one (which we are in). You see the slope with dark blue lines. (I hope those clarify the idea)

I think the short-term price action will be something like the black line, we will go kinda sideways till we reach the resistance line in orange. Then, we go down to the light blue line. From there, I am not sure if we go up or down. If the blue line cannot hold I will be very bearish and I think we will go much lower. If we go below the purple support line I will be 99.99% bearish! But, if we go up I will be much more bullish and I expect to see AT LEAST $16k and possibly ($17k - $18k). At this moment I am slightly more bullish and I think after the third cycle we will go up.

What I do is to sell most of my BTCs around 11100-11300 and rebuy at lower prices or I wait tell we see more clear signals from the market.


Good luck
Great work keep it up and leave us a like as well mate :)
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