Just another crazy prediction of my own, what does it matter? Bitcoin's gonna crack at 14.3k. By that I mean, really crack.
I'm sure you're wondering, why 14.3k for God's sake? It's because Bitcoin seems to preffer 0.236 fib surprises. Can't say no more. Take good care!
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Price action as predicted. Bitcoin has even dipped twice below 10k. From my point of view, the big question in the next few days will be whether the price will fall below the daily MA 38.
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I think it will be interesting to see how long the price stays within the descending channel and whether it exits through the top or bottom wall
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It's broken out to the upside it seems
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New development, updated channel -- at the crossroads again -- up or down?
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Cracking in progress... zoom into the idea chart and push "Play" -- it's going as planned. BTC has got double-rejected at fib line 0.236 of the sub grid ($14,318.51) and at fib line 1.618 of the major grid ($12,525.25) so chances are it will now complete the retracement all the way down to the fib line 1 of the major grid -> $7,821.33 Of course I may be wrong with that, we will see...
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Price development as predicted. Another 4h candle closes below the important MA230. The downtrend is practically sealed. Should the MA370 ($ 9.5k) be broken soon, Bitcoin is in dire straits.
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Next stop 8.2k
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Daily closing under MA38 $10,520 (0:00 UTC) this time around would set off big troubles in my opinion. Watch it and take care.
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Update available: The horrible thruth about Bitcoin - Part 2 - runs like clockwork...