$9,120 at a Minimum by Mid September - Read Comments Section...
... The main reason for $9,120 at a minimum by mid September is because of the 40-EMA in the 4-Day TF (Time Frame) Mentioned in the previous video publication (posted below). If this downward pressure continues into late September, the price action COULD continue falling to the 50-MA or 60-MA in the 4-Day TF.
Click the chart below to see my most recent VIDEO publication if you have not seen it yet.
... The main reason for $9,120 at a minimum by mid September is because of the 40-EMA in the 4-Day TF (Time Frame) Mentioned in the previous video publication (posted below). If this downward pressure continues into late September, the price action COULD continue falling to the 50-MA or 60-MA in the 4-Day TF.
Click the chart below to see my most recent VIDEO publication if you have not seen it yet.
... The main reason for $9,120 at a minimum by mid September is because of the 40-EMA in the 4-Day TF (Time Frame) Mentioned in the previous video publication (posted below). If this downward pressure continues into late September, the price action COULD continue falling to the 50-MA or 60-MA in the 4-Day TF.
Comment:
Comment:
I've had a request to do another TA for bitcoin. I've been super busy remodeling my office while also selling more hardware (AMD graphics cards, motherboards, RAM, power supply units, power distribution units, CPU's, etc...) out of my mining room on eBay. I've had only 2 hours sleep over the past 37 hours.
If you watched the video publication I posted on the same day as this chart publication, you will be reminded I said I'm expecting downward pressure to continue to mid to late September. I also pointed out in that video publication I'm expecting the price to come down to the GRAY 40-EMA in the 4-Day time frame. That puts the price to come down to $9,120 "at a minimum." It's POSSIBLE we could go lower (as shown in the 4-Day chart below). I placed dotted lines to show the POSSIBLE future trek of the GRAY 40-EMA in the 4-Day TF, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF.
It's POSSIBLE we continue going out sideways (never substantially below $9,120) in a similar fashion as what occurred in 2012 before bolting upward again in late 2012. It's also possible we continue down further to the 50-MA or 60-MA in the 4-Day TF.
BOTTOM LINE: We will LIKELY continue with downward pressure for the LONG TERM until mid to late September.
If you watched the video publication I posted on the same day as this chart publication, you will be reminded I said I'm expecting downward pressure to continue to mid to late September. I also pointed out in that video publication I'm expecting the price to come down to the GRAY 40-EMA in the 4-Day time frame. That puts the price to come down to $9,120 "at a minimum." It's POSSIBLE we could go lower (as shown in the 4-Day chart below). I placed dotted lines to show the POSSIBLE future trek of the GRAY 40-EMA in the 4-Day TF, the GREEN 50-MA and ORANGE 60-MA in the 4-Day TF.
It's POSSIBLE we continue going out sideways (never substantially below $9,120) in a similar fashion as what occurred in 2012 before bolting upward again in late 2012. It's also possible we continue down further to the 50-MA or 60-MA in the 4-Day TF.
BOTTOM LINE: We will LIKELY continue with downward pressure for the LONG TERM until mid to late September.
Comment:
It's still quite possible for us to fall down to $8,386.86 FIB in a shakeout before we see a reversal to upward pressure for most of the 4th Quarter. Have a look at the BitFinex margin short and margin long contracts.
My second blue 0.618 FIB at $8,386.86 is still quite possible and also lines up fairly close to the Green 50-MA in this 4-Day TF:
My second blue 0.618 FIB at $8,386.86 is still quite possible and also lines up fairly close to the Green 50-MA in this 4-Day TF:
