These are my thoughts and projections on the price at OKCoin.
We may see a little choppy flat motion as well before a solid leading decline. A choppy flat motion usually leads to a steep decline in Bitcoin land, at least in my opinion. If Bitcoin isn't gradually moving up then it is either going down or about to go down.
Didn't like what I saw when I loaded up the yearly SCMR dynamic trend level on OKCoin today. 1974 can now be considered to be walled to f*&K
Assuming we can't break the yearly SCMR dynamic trend level at 1974 on a bounce from here, the next plausible target for a 'normal' Bitcoin dump (of minimum of 58%) would be 1224 ish. This also happens to be the 2.0 fib...
So the $300 broke and we made a low to $298.55.
A lot panic in the morning, a lot of stops hit & a lot of people exit their longs.
Still there are traders waiting for the $260 for BTC. Yet we need to think
if the market makers want to short squeez soon because shorting
at this point might be a riskfull play (Risk/Reward)
The Market can have some 'upside'...
2100 has got 2 week dynamic level support, needs to hold or it could dump quite hard given the bollinger bands on the daily flaring out, macd and obv bouncing off resitance
Market has been pumping relentlessly with little pullback since lows around 1951. We currently sit just under the final major bearish trendline taken from all time highs down to recent highs, around 2740.
Many bears have been given reasons for grievance and will continue to do so imo. I'm not expecting much respite until we reach 3039 ish ($499)
4hr DMI/ADX is turning up again. This is just beginning. Looks very similar to the selloff that happened at 31, Target this time is around 21.7, which puts us at lows for a double bottom
Update to previous chart... We need to break this falling wedge to the downside briefly to create panic and get the whales filled up at 2994-3000 CNY...
Better sooner than later!
BTC showed us again a head and shouder formation!
This will take us back to at least 3615 because there we have strong reactance from the last weeks.
It's time to go short to for a few hours and wacht carefully if we break 3615.
If that happen the target at least 3600 or maybe even lower.
Our target is calculated just like the cup and...
