Remember, 2 weeks ago, they did that pump to 4200ish as well on Saturday, around the same time, before that dump on Sunday. I honestly don't know at this point what the next step will be. Would rather see a drop to 3800/3700 to think of a long again. But this here, can go both ways. ETH is not really following, while that one was leading 2 weeks ago. LTC also not really moving. But of course, if btc breaks 3950/4000, they will follow as well. But normally for move, want to see alts move stronger than bitcoin .
So i think this zone is very difficult to trade on and best to stay out of even. I think the will get invalidated if we break the 4000 level. On the downside, a break of 3880ish, might mean we drop even more towards the 3700/3800 zone. There was a big fight past few hours, big buys and sells where OI was increasing (so many new shorts and longs opened).
It followed my plan form the previous analysis quite well, but that from past week just was taking so much time, it might mean something else is going on (for the short term at least)
Best advice i can give is: Go enjoy your Saturday and leave the gambling to others :)
Best guess is: Move towards 4000 and Bart move dump to 3800/3700. Unless ETH and LTC really break out.
Thank you for all the likes for the previous analysis, very motivating. I will post a normal analysis after we will see all of this play out.
Friends, please take a look at my analysis as well!
Actually, I’ve reached a very similar conclusion about the price forecast for BTC/USD, but via different chart patterns.
You’ll certainly find it useful! I'd greatly appreciate it, if you leave your feedback.