jimo79
Short

Bitcoin false breakout? Tomorrow will tell

POLONIEX:BTCUSDT   Bitcoin / Tether USD
This crash appears to be following a similar template to the previous one back in December. Each daily candle is closely resembling the theme of each day in December. Which means that with today's bull turn upwards it matches the false breakout in December which led to three days of decline to retest the previous low and complete a double bottom before then creating the actual bullish trend upwards. My advice is to trade with caution over the coming two days as we may not be out of hot water yet.
Comment: Downward move has commenced, should be four days till our bottom on January 24 if we follow the same trajectory as the previous crash
Comment: The last three days have followed my arrow down as predicted. Tomorrow should have the biggest falls and we appears to be heading for a touchdown somewhere beneath $9000.

After that we might have a day or two of interesting moves due to the futures contract renewal on the 26th which might delay any bullish move upwards.
How can you be so sure that its false breakout? Right now btc is 12700.. Breaking out all resistance.. I have never seen double dip in BTC.. I think it won't go down.. What do u think now?
Reply
jimo79 VishalGupta35
@VishalGupta35, I'm not sure but I am showing that the same pattern occured in December. Just look at history, it spiked up followed by three days of decline to retest the previous lows. Its possible if it doesnt break through the resistance at 12800, then there is a chance to retest the low
+2 Reply
@jimo79, Which day you are talking about?
Reply
jimo79 VishalGupta35
@VishalGupta35, the next four. look at the previous pattern on the chart from back in December which is similar to the one we have been in the last four days
+1 Reply
jimo79 VishalGupta35
@VishalGupta35, strap in for a big fall tomorrow. So far it is has gone as I predicted it.
Reply
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