On my last update, I said that I could imagine a bull run much earlier. Now I have changed my mind.
Many authors on TV have presented the ideas with a falling wedge. For a short time I had the same idea, but I noticed that it will not work with a very high probability.
The target of $6500-6200 remains, which I already had as a longer target. From that point on, I will watch closely. However, as a result of my technical analysis, we would also have to break this target and approach the $5000-4000 area.
I'm pretty sure we'll have a bull run after that. Bitcoin will rise. Then, it will surely end badly again. I've got targets like $2000 in my mind, so Bitcoin will not move much for a very long time.
Good luck.
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To reassure everyone, there is no reason to operate fomo.
This was my first idea that I do not believe anymore. But once there is a breakout and we make a flag it is a buy.
Nevertheless, I am firmly convinced that this will not happen. For me it looks like a bull trap. As I said last time, in a bear market, most people will burn their accounts because of wrong decisions.
Every market is '' manipulated '', which in my opinion is not bad, so you do not jump after every upmove.
Also, keep in mind how far we have fallen so far.
Note: If I see bullish singhs, then of course I'm open to correct my opinion.
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Weekly close above 8200. We will see a small bull run probably to 9000
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First of all we need to break 8400
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Funny how the last few days everyone talked about a target of $2000-4000. But once you go up $400-300 everyone is bullish again and think bitcoin would reach an ATH. At the end you say it was FUD or manipulations because you made losses and can not admit that you could read it on the chart. I go sleeping. Next few days we see us at $6300.
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Couldn't break 8400. Made no flag for a confirmation. Bitcoin buy pressure looked weak. This is why I say don't FOMO we are in a bear market. Seems like a bull trap.
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Should we make a bigger flag now you can drive this trade to $9000. Everything is possible. But I don't need this tiny move.
Good luck and good night.
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It was a trap. Hah. Next stop $6000 area.
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Looks like we are heading for 9000 again slowly.
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Btc looking very weak. Because of the upmove we made a bigger flag correction. A correction before another dump.
Everytime is see E55 short, it's good time to buy :)
lucik1
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@Yo_Mama_Trades, yeah its really funny tho , E55 is pretty good at predict short term pump ,whenever he try to post a long term correction chart its pump!
i did this a couple of times and it actually works .... lol
DrJLT
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You're one of the last bears (I think you're permabear), but this time you're probably right. Death cross imminent. will be another 80% crash:
photinoman
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@DrJLT, I don't think so. The technical development is a lot faster than ever before. The trend line from 2 years ago won't be applicable. Finally, we start to see some startups that offer solutions to the business problems. They will get more mature with time.
photinoman
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@sdurgut, For example, you can apply 5-10 year trend lines to gold since there is no significant change, gold is gold.
BullishAbandonedBaby
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Hey, @e55 to be a "top" on this site you should post charts with predictions at $15000-20000/BTC on the next month. More "to the moon" charts to be a top! LMAO
xuanhaimmoer
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Gandalf123
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Again, love the regular updates. Very helpful to amateurs. Thanks
NewYork888
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Exactly why 99% of all day traders go broke. BTC is headed to $3,200 .
AJWOOD
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The pattern emerging over the past day looks similar to February 26th-27th but faster paced and the trendline over the past several hours looks positive. I think it may squeeze forward another $400 before pulling back to where it is now.