Looks like Bitcoin has decided to consolidate. Here are the two levels I am hoping we drop down to. The bottom two ($3410 and $3263) represent an excellent buying opportunity if we can get there.
Comment:
WARNING: This could be a head fake. Bitcoin is now back into ascending triangle #3. Watch the close of this candle and the open of the next on the daily. If we close back into or above ascending triangle #3, we still go to $4800. If we close below ascending triangle #3, we continue consolidation.
Comment:
We did in fact close below ascending triangle #3. HOWEVER, we are still above our top most GREEN trendline. This is indicating some indecision from the market. To continue our consolidation and confirm the move down, we must close the current candle BELOW our GREEN trendline and open the next candle on the DAILY BELOW this same trendline. Signs are good for consolidation but we are not all the way there yet. This could still be a massive head fake and we go to $4800. Shorts be careful! Wait for confirmation.
Comment:
Looks like we will continue a steady ascent to $4800 underneath our third ascending triangle:
Comment:
New path to $4800 (see triangle #3):
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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stewdam.us