Hello and welcome to my ichimoku Bitcoin analysis! As I predicted a few days ago, Bitcoin is facing a hard resistance around the 9060 mark. I even expected to try the 9175 last high resistance, but the price it wasn´t strong enough to even touch it, so that makes a drop scenario more powerful. Ichimoku 1 day cloud brings new supports starting from 7800, but in my opinion that level wont be tough enough to hold it, so my take is that we are going to around 7500 mark, which is the .618 fibo level. If that support also fail, then the price will be driven to the 7100 area, but if that happens we will see the price targeting again 6k. I don´t think that will happen, at least not now. Institutional smart money is coming long on Bitcoin, that makes think that 7500 will be the lower support for now.
If we have a look at the 2017/2018 fractal, you can see how is playing a very similar game like the 2014 crash. History repeat itself over and over again, why now it should be different? Now we have an increase of the adoption rate + institutional money + increasing industry around, but that´s not necessarily meaning that we are going to take a moonshot from right this point. The 11500 area will play a crucial role in near future of Bitcoin, and most likely, big whales will take this point as a another stage to buy cheaper coins, and together with the 2014 fractal, gives me an idea that we could bounce and go down hard again, but that scenario have to be proven yet. That´s why I marked that area in black, because there is no any guarantees yet of the price going up or down.
However the alts will embrace soon an spectacular skyrocketing race, and I expect that to happen from the next bounce of Bitcoin, and if I´m right it could will start happening in around 10-12 days. Anyway, ETH and some others could remain growing while Bitcoin start falling during the first days of the fall, let´s see.
Thanks for watching my idea and have a safe trading!
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If we have a look at the 2017/2018 fractal, you can see how is playing a very similar game like the 2014 crash. History repeat itself over and over again, why now it should be different? Now we have an increase of the adoption rate + institutional money + increasing industry around, but that´s not necessarily meaning that we are going to take a moonshot from right this point. The 11500 area will play a crucial role in near future of Bitcoin, and most likely, big whales will take this point as a another stage to buy cheaper coins, and together with the 2014 fractal, gives me an idea that we could bounce and go down hard again, but that scenario have to be proven yet. That´s why I marked that area in black, because there is no any guarantees yet of the price going up or down.
However the alts will embrace soon an spectacular skyrocketing race, and I expect that to happen from the next bounce of Bitcoin, and if I´m right it could will start happening in around 10-12 days. Anyway, ETH and some others could remain growing while Bitcoin start falling during the first days of the fall, let´s see.
Thanks for watching my idea and have a safe trading!
····· If you find this report interesting please thumbs up and follow me ······
