There's a lot of arguments going on about whether BTC will go up or down based on the futures market closing tomorrow. It's either going to go up or down, but be prepared either way. This shows trend lines that extend further than the visible area.
Bitcoin is either going to dip down to $9000 (not $6500 like some are saying) or it's going to bounce up to about $14,000 (which it'll end up doing anyway over time).
If I'm right, we're going to see some sideways movement for the next 8 hours and what happens at that point will determine the short term future of the Bitcoin USD value.
Bitcoin is either going to dip down to $9000 (not $6500 like some are saying) or it's going to bounce up to about $14,000 (which it'll end up doing anyway over time).
If I'm right, we're going to see some sideways movement for the next 8 hours and what happens at that point will determine the short term future of the Bitcoin USD value.
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We have dropped down to the first downward trendline andready and have just started going up. We're going to see an increase in BTC to approximately $11,200 in the next couple hours. The point of no return is coming closer and we're going to see BTC go to either $11,600 or down to $10,500. Depending on what happens in the next 3 hours will determine the short term future of Bitcoin.
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We hit my resistance level SPOT ON where I predicted it would be. Coinbase capped out at about $11,250 although this candle is not complete yet. The next hour should be a tale that tells us where we are going from here.
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It would appear that we're forming a cup and handle on BTC. I'm moving myself from neutral to about 65% bullish at this point.
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Keep an eye on BTC volume as the handle forms
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We don't have a confirmed cup and handle or a breakout yet. Volume still too low. Bouncing between $11k support and $11,200 resistance.
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Looks like we might be going bearish still. It's what I originally felt and saw. Next few hours as we complete our bear flag will tell the story. Peace!
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It's been a while since an update. The bear flag is updated in this picture. As expected, we bounced between support and resistance for a while and fell back into reality. A really nice head and shoulders pattern appeared during that trap. Expect a small recovery then another mediocre dip from BTC.
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I hope you all went to fiat. We've hit what could be the very bottom. Here's a slightly updated zoom in
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This is for you shoe
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It would appear we are hitting major support at this level. It's lower than I had expected (I tend to be a bit conservative) but I am currently happy with so many opportunities. We're going to see some resistance at 7800 and again around 9000 but once we pass those levels, we'll start seeing some (hopefully) healthy growth. Sorry guys. We do not want BTC to moon. We want healthy growth.
Trade closed: target reached:
We dipped below my original hot zone but definitely had a great opportunity to short BTC here. I've moved to a new chart idea for those of you that want to follow it.