In this chart you will see that I have drawn out what looks to be a potential bull flag
for bitcoin's Daily chart
. Taking a look at the bottom of the red bull-flag, you will see it indicates that around $7,500 would be the very bottom. Considering that this is now the second major swing high failure, we will most likely see a bigger move towards the downside for the mid-term. The $7,500 zone is also confluence with the golden pocket fib area from the $3,200-13,800 parabolic movement (see additional chart:
). Laddering buys within this $8500-7500 range is, in my opinion, a safe bet. there is always a chance we see a quick trend change and swing low failure from $10,800, or a potential triple bottom from the $9,100. But going strictly based off of what I have drawn, I believe the golden pocket will be the reloading area before we test new highs for 2019. In order to showcase my thoughts exactly, I have drawn a cringe Blue squiggly line.
If you enjoyed this analysis, and/or like cookies, be sure to give me a thumbs up and follow for more content. (: