All indication pointing at one more leg up(at least to level of 7425$-7595$) for BTC before any potential drop.
But history show that when ever BTC is at potential major support or resistance it usually exhibit a pattern of 12345 where price tend to move to the opposite direction of the end of phase 4-5.
The above pattern usually may present itself in the form of divergence either BULLISH or BEARISH Divergence dependent on where price direction face.
From the pattern we are presently at phase 3-4 which may take price down to around (7050$-7130$) this is not A MUST to happen but a POSSIBILITY.
Final target for BTC at end of phase 4-5 with this pattern is expected to be between (7425$-7595$).
Then we will have a potential drop that will take us back to 5890$-6057$.
I will keep updating this thread as market proceed.
Thanks for reading through and I will appreciate your likes and please do share our ideas and follow us for more updates.
Here are some of our past hot thread on BTC.
Potential wave pattern for XBT/BTC guys check it out.
Bitcoin Corrective pattern
Potential IHS in formation with target pointing at 8000$-8800$
Possible next move for BTC
Great recovery path for BTC, do have a look.
BTC Typical wave pattern
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
Effect of Magical trendline
The similarities bewteen 2014 and 2018 seems so real, guys check it out and see those facts and figures we might be on for 8400-8800$ according to 2014chart.
This BTC channel show entire BTC lifecyle
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Trade in progress
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Hello guys here is an update we have so far,
BTC trading in tight range of price where we have support at 7229$ and resistance at 7293$. We are expecting breaking down of this range to test 7150-7000$.
But if price break this range up, we have immediate resistance at 7336$ and follow with 7495$.
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Guys look closely at this fucking chart, Would you be a seller or Buyer????
Please drop your comment!!!!!
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we may see 6800-7000 before further fall or it drop more from here, target for BTC is 6090
Idk there is something different about this rally, every drop gets bought up immediately, I am not sure what to expect
weslad
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@potatohead314, its obvious its a trap to trap all buyers before they do the havoc. Now we are down
ashamsinyc
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need an update!!
cryptozwerg
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I don't think we will drop below 6500 anytime soon. I am rather preparing myself for 1st of November, BD of Bakkt, which will bring the Super Bull back in play. Thank you for your great analysis!Much appreciated.