Quinton84
Long

possible bump up to $7000?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Look at the chart on the 4 hour time frame. You'll notice we have a consolidation phase occurring which should indicate a price bump to the upside. If this does play out, I expect the price to jump between $6950 and $7000 before hitting the trend line of resistance. From there I believe the price will drop through the $6800 support level . I will update with targets as this plays out. I'm expecting prices of $3200-$3800 by June. I see a lowest price potential of sub $2000 but doubt anyone would watch the price drop that low without purchasing as much as possible forcing the price to jump back to 3k range.
Comment: I rushed this a bit when I posted this. To be more exact, when i ran a fib retracement...I found the target to be 7100. But after charting out some stocks, I noticed the they have room to go up 7% before dumping. If btc follows that, we could see prices over 7300 but I'm going to stick with 7100 for now and then evaluate the situation.

Comments

Seems logical to me
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