Could this be? Im going to post a bigger time frame analysis of BTC that is making me think that BTC will hit the 40k for end of 2018 or begining of 2019.
For now, a very clear H&S as formed and if it has strength enough for bounce right here we could see BTC reaching the 7.5-7.8k usd.
Educational Only
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GoodTrade
-CJ-
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Time for take a very serious decition
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Where should go if this fail? Around 5270-5300
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Just a Thought... real targets are green boxes... and after that, welcome back 20k.
Nice posting. An almost perfect match for the second shoulder that followed your prediction, but where next - volume remains low in an absolute sense, sentiment remains short-term bearish, RSI clearly shows bullish divergence on its 1-day candles, and there is as little evidence of sellers as there is of buyers. Strong buy-walls currently at 6.6K, but even stronger sell walls at close to 6.8K are evident. If this third attempt to breach 6.8K fails, then the most likely outcome will be to revisit the 6K area. Under normal TA the inverted H&S normally leads to an upward break, but in this deregulated market it remains unclear what the unseen market makers really have in store - BTC is not unknown for doing the opposite of what one might expect based on the normal TA signals and indicators. Fundamental events expected in the next three or four weeks may have such a strong bearing on market direction that we will look back at the uncertainty of these days in a completely different way, but at the moment the short-term trajectory may yet turn down in a sharp way until the volume issue becomes resolved. We need some resolution over direction from BTC to trigger the next growth phase of the alt market, which has been slowly bleeding over several months. This in turn is likely to be forced into a severe shake-out as many first-generation coins start to fail following development phases that have been underwhelming, but the explosive potential for the more fundamentally useful alt market once BTC starts its uptrend again looks explosive. So, let’s be hopeful that BTC will either break upward in the next few days, or otherwise quickly and severely down-correct to allow the next growth-phase of the market to begin once the buyers are tempted to re-enter the market.
CristoJaraba
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@tilanthi2, as always, thanks for your very complete analysis and comment master Glenn.
For now, BTC has break upward.. and i hope it reach the 0.786 level of the fib projection.
After this, for sure we can expect a very hard break leading the price to the 4.5 - 5k area.
We will see it in the next hours/days.
Cheers!