Hello Everyone!
A quick look on BTC here. Current situation on 1D chart resembles me on the one we had from the beginning of 2018, when BTC started this long and deep correction, that made a lot of people leave the market. I cirled all the parts that look kind of similar to me, and based on this I projected the further movement that will lead BTC to this year's ATH.
...But there is another variant based on technical analysis. If we assume that the Flag is forming now as opposed to the accumulation as we had before, then after 7260$(0.618 Fibo) which is a really strong level that will alow BTC to remain within the uptrend, the next support is 6600$ from which I expect BTC to continue moving upwards.
P.S. Personally I will stick with the first variant and will invest some more money in Bitcoin. If BTC will go below the previous high I will simply SHORT it to at least 7260$, so I will not lose any money, I would even earn some))
Cheers!
A quick look on BTC here. Current situation on 1D chart resembles me on the one we had from the beginning of 2018, when BTC started this long and deep correction, that made a lot of people leave the market. I cirled all the parts that look kind of similar to me, and based on this I projected the further movement that will lead BTC to this year's ATH.
...But there is another variant based on technical analysis. If we assume that the Flag is forming now as opposed to the accumulation as we had before, then after 7260$(0.618 Fibo) which is a really strong level that will alow BTC to remain within the uptrend, the next support is 6600$ from which I expect BTC to continue moving upwards.
P.S. Personally I will stick with the first variant and will invest some more money in Bitcoin. If BTC will go below the previous high I will simply SHORT it to at least 7260$, so I will not lose any money, I would even earn some))
Cheers!
Comment:
As you can see BTC decided to go by the second variant, as I said, I didn't lose anything)) As for now, I assume two variants for BTC, both of them are for the LONG. As it is seen on the graph, I expect BTC whether to reverse after some consolidation in the current range, or accelerate down to the trendline support, with subsequent "fake breakthrough" due to Stop-Losses, and then a sharp reversal.
