Hi folks, got another Bitcoin update for you.
So the bear flag formation failed as we saw a breakout of the top, but now the price is looking like it’s going to come back down again so maybe it was simply a fakeout.
I am looking again at the April/May 2018 fractal that I posted about a week ago.
Since fractals just give us a general guideline and price never follows it perfectly, I decided to take a better look and line up the waves/movements with what we have seen so far the past 2 weeks.
As you can see it is following it very well and even predicted today’s move up.
I will be looking to see if this continues to follow because if we can’t break this 8200 resistance and instead drop back down towards 7500, it’s going to be very likely we see that break to the downside.
Now I posted the entire fractal just for my own curiosity, but it’s not very likely we see it follow perfectly. So please do not trade off this, but if things get ugly out there it is very possible that we hit the targets that the fractal is showing and this also matches up with my targets I posted in this idea a couple days ago:
I will update if this fractal is invalid.
If you like this idea, please remember to give it a thumbs up!
Last fractal analysis:
So the bear flag formation failed as we saw a breakout of the top, but now the price is looking like it’s going to come back down again so maybe it was simply a fakeout.
I am looking again at the April/May 2018 fractal that I posted about a week ago.
Since fractals just give us a general guideline and price never follows it perfectly, I decided to take a better look and line up the waves/movements with what we have seen so far the past 2 weeks.
As you can see it is following it very well and even predicted today’s move up.
I will be looking to see if this continues to follow because if we can’t break this 8200 resistance and instead drop back down towards 7500, it’s going to be very likely we see that break to the downside.
Now I posted the entire fractal just for my own curiosity, but it’s not very likely we see it follow perfectly. So please do not trade off this, but if things get ugly out there it is very possible that we hit the targets that the fractal is showing and this also matches up with my targets I posted in this idea a couple days ago:
I will update if this fractal is invalid.
If you like this idea, please remember to give it a thumbs up!
Last fractal analysis:
Order cancelled:
I don't think this fractal is valid anymore after the 7500 region had held and we saw a strong bounce this morning. It's likely we continue up from here