Congrats to the few that stayed bearish with me hehe,
We finally broke the wedge we p&d in for over 6 months. As expected the massive support around 6K got slaughtered with a red dildo, this is where we find fear in bulls hands. BTC -9.89% finds some support of the 1sept 2017 top at 4950 together with the 76.8% retrace. I expect BTC -9.89% to trade in this falling wedge for the coming months, breaking supports step by step while capitulation hits. We have a lot of supports in the 4K area but we may even drop further and kiss 3.5k under the mean to start gaining strenght again in 2019.
Major supports:
4950: 1 september 2017 top
4650: 78.6% retrace
4450: performed as strong resistance in september 2017
4000-4450: lots of small supports
3400: 38.2% retrace of the sept 2017 high
3000: double tops at 10 june and 20 july 2017 + low at 13 september 2017 that got bought with force
2390: 61.8% retrace of the sept 2017 high
Don't get fooled by longing in this bearish market but don't give up the hopium ;)
We finally broke the wedge we p&d in for over 6 months. As expected the massive support around 6K got slaughtered with a red dildo, this is where we find fear in bulls hands. BTC -9.89% finds some support of the 1sept 2017 top at 4950 together with the 76.8% retrace. I expect BTC -9.89% to trade in this falling wedge for the coming months, breaking supports step by step while capitulation hits. We have a lot of supports in the 4K area but we may even drop further and kiss 3.5k under the mean to start gaining strenght again in 2019.
Major supports:
4950: 1 september 2017 top
4650: 78.6% retrace
4450: performed as strong resistance in september 2017
4000-4450: lots of small supports
3400: 38.2% retrace of the sept 2017 high
3000: double tops at 10 june and 20 july 2017 + low at 13 september 2017 that got bought with force
2390: 61.8% retrace of the sept 2017 high
Don't get fooled by longing in this bearish market but don't give up the hopium ;)
Comment:
Support: perfect kiss of the 38.2% retrace of the sept 2017 high as mentioned
Next target lays around 3K. Meanwhile, a bullish divergence looks to form.
