GOLD is going to find its new horizontal support zone SINCE LAST FRIDAY that it did not make a bullish rally to break its current wave.
Similar scenario is about to happen on BTC. We did love to see BTC rally to make a correction back to 12k round. But BTC is so weak that we are now following the previous idea for a lower low. The first horizontal support could not hold too long if BTC make it back to D without a strong rally bull move. That would drag btc down to next support level 5k . And then 3K for the future.
Less is more!
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First will see D to be hit on the 4H chart above.
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Pressure line on the top. And support trendline is broken now on 4h chart.
I look at situation in a different view im my new BTC RealTime.i don't think we drop more but we will stay in a range for at least 4 month.if we go lower then all btc miner left this market and that will be a real hell.and beside of this when you look at alts you see lot pressure on them,pressure that they want to run of it,opposite of BTC.
SloppySeconds
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@Peymana71, Your argument makes a lot of sense and lays out a good price/time model that works within the fractals we're seeing.
mbansal61
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I saw the bearish butterfly channel in the chart of BTC.
Am I right. Please guide me.
I don't think the BTC will go below 6000, the 28th law tells me that most people see the main force will not be natural!
For example, BTC 344 to 681 is the opposite when everyone is looking at the bull market!