ewhite41

Bitcoin Potential Scenario

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Here are a couple of scenarios for Bitcoin . We have had a nice rally without a nice correction. Bitcoin needs more juice to push higher. Therefore a healthy pull back could be in the making. Pull backs or corrections are needed and are healthy in any market. Anyone who hate corrections are typically emotional traders without a plan. Investors who are long term investors can position themselves to take advantage of these price levels. It's easier to be an investor in a Bull Market. Patience is all you need. Price will come back to key levels if the asset is valuable. Parabolic is not what we want with BTC . The longer the parabolic move the deeper the correction. We want healthier moves with decent corrections.

If we break $17,000 we could see a deeper drop. If we break above $20,000 and close we could go higher. However, keep an eye out for a potential Double Top . If a Double Top occurs, that's a nasty drop coming...

Comments

Good work
Reply
There are people who want to moon right now,

but I would like to get nasty.

(But in all seriousness, your explanation of parabola activity is well-written.)
Reply
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