The shorts came down, however, they are still too high. I think we'll see a pump to the 7000 area, where MA200 and log res are strong resistances.
Then a leg down to the 4800 area.
The final low will be early 2019 in the 3k area imho.
Keep in mind, the peak of next rally, starting in 2020 at the latest, is at least 100k.
Good times are ahead even though BTC likes to play dead at times :) Else it would be too easy hehe.
Then a leg down to the 4800 area.
The final low will be early 2019 in the 3k area imho.
Keep in mind, the peak of next rally, starting in 2020 at the latest, is at least 100k.
Good times are ahead even though BTC likes to play dead at times :) Else it would be too easy hehe.
Comment:
If the candle closes below or around 7k, and doesn't follow the push through the log resistance, it might drop further as indicated in the chart. If we continue to push through the resistance, the chart is invalidated. Looking for the close of the candle and the direction btc is taking the next days.
Comment:
Well, the daily candle close below the logarithmic resistance is not a strong sign. I am inclined to believe that this whole move was orchestrated to kill off shorts, so that we can resume with the downtrend.
Comment:
Basically, this chart is still valid, and as long as the logarithmic resistance has not been broken, the above path can happen, and BTC can easily fall into the high 4xxx range. Therefore, unless we get a decisive move, I will just update the old charts here that are still valid, instead of posting new ones that look exactly the same :)
Comment:
P.S: Stocks get a beating, which means that BTC could follow. This increases the chances for dumps. Long/short ration also going in direction of longs again, also increasing the likelihood of dumps. But BTC could also just go on sideways. We'll see soon.
Alternatively, BTC does it's upward creeping dance, slowly to 7000. These are both scenarios that I currently see.