jackidrude

BTC Downtrend continues and continues...

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
23.05.2018
I made this chart with the inspiration of MPC's USDBTC chart.

Scenario A or Scenario B, we will know for sure in 1 week time, end of May/beginning of June.

1. Scenario A; for this scenario we have to see a rise in the last week of May.
2. Scenario B; if it declines below 7k mark, can go down to 6k at the end of June/beginning of July.

Note: All numbers are approximate, give it a +/-200 USD margin when looking to resistance/support lines. I tried to make margin blocks in green and red.

I believe BTC did NOT see the DIP yet, but it will see sometime this summer/fall, I am guessing. If it goes below 4350.0 it might keep falling to 3400.0 and then to 2500.0 but this wont happen I guess, but we might see 3400.0 that is def in probability.

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UPDATE: 24.05.2018
Nothing changed, both scenarios can play.

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IMPORTANT:
Please comment respectful, I am testing my analysis (my first attempt, yes newbie here) and I would like to receive constructive and teaching critics.
I might not know terminology. I am an AMATEUR, just interested.
This report and chart is by NO means a tip for buying or selling, it is just for educational purposes.
I am NOT trying to foresee the future, I am just analyzing and having routes of where it might go from there.
Trade closed: target reached: Bammm!

It seems like scenario B played out correctly, even scenario A ended up where I thought :) plus, my fall vision also came up to be correct, too, so for me, this is quite satisfying to see.

Then I told that it is in the probability that if it goes below 4350.0 USD it might keep falling to 3400.0 USD and I am thinking that we are currently waiting for this (numbers might change). We have seen 40XX.X USD and we still can not say that downtrend is finished.

Looking at my first chart 6 months ago I see how rookie I am :) even looking to the graph. But anyway, progress is progress and I am happy :)
Trade closed: target reached: Bamm! Today we have seen 34XX.X USD :) what we will see from now on, I will check this week. I’ll see if it goes to 24XX.X USD range or turns around.

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