August 3, 2018 Daily Analysis
We've got a weekly bearish engulfing candle being completed with 3 days left. Unless price picks up by $400 by August 6th, it's about to be a rough August month.
Next target for the completion of this corrective cycle is ~$5500. Why? When we posted a February low of ~$6000 (finex exchange) we then posted a ~$5750 low in July. That's a $250 lower low achieved by BTC. From $5750 that brings me to $5500 for end of August. Just a theory.
PSA: Alts are unchartable so don't bother wasting your time. Follow BTC - the alpha- that dictates the market and you will know everything.
Warning: Alts will get rekt in the next few months. Remember that since 2016/2017 alts are still up (on avg.) close to 25x - 100x in some cases. They have a long way to fall. You have two choices with these: 1. Dollar cost average down and add more 2. Hit the kill switch and dump all your alts ASAP. The choice is up to you.
I'm always here to help and provide you unbiased analysis. Hope this helps!
Ask questions and post comments, give me a thumbs up :) I'd appreciate it. Thank you, friends!
We've got a weekly bearish engulfing candle being completed with 3 days left. Unless price picks up by $400 by August 6th, it's about to be a rough August month.
Next target for the completion of this corrective cycle is ~$5500. Why? When we posted a February low of ~$6000 (finex exchange) we then posted a ~$5750 low in July. That's a $250 lower low achieved by BTC. From $5750 that brings me to $5500 for end of August. Just a theory.
PSA: Alts are unchartable so don't bother wasting your time. Follow BTC - the alpha- that dictates the market and you will know everything.
Warning: Alts will get rekt in the next few months. Remember that since 2016/2017 alts are still up (on avg.) close to 25x - 100x in some cases. They have a long way to fall. You have two choices with these: 1. Dollar cost average down and add more 2. Hit the kill switch and dump all your alts ASAP. The choice is up to you.
I'm always here to help and provide you unbiased analysis. Hope this helps!
Ask questions and post comments, give me a thumbs up :) I'd appreciate it. Thank you, friends!
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