37 - 39 is critical support falling wedge formation RSI has not been this oversold in over a year; 5 low points, look in the past... meanwhile, ratio is also showing signs of bottoming be careful
expected oversold bounce area 8000-8300(8800) target 8800
See chart for idea/expectation. Consolidation until the end of September, followed by breaching different resistance levels, test of different support levels, and slingshot. Last quarter (october, november, and december) of 2018 will be bullish. Possibility of +/- $50k by 31st of December, but $25k-$36k range more likely. DYOR
After the 2013 bubble, it took 59 weeks for bitcoin to find its absolute bottom. The correction was severe; 85%. After the bottom was found, bitcoin went sideways for 36 weeks. Total length from ATH to new rally; 95 weeks. The current bottom for bitcoin was hit after 27 weeks; the correction was 71%. Bitcoin has corrected much faster this time; it only took 61%...
See chart.
This is the same chart as published previously and I believe mid 6000s could still be in play. Just a slightly longer timeline than originally proposed. June 6th is over and we did not double bottom....yet. Will it play out? Let's find out! What are your thoughts? Not intended to be financial or psychological advice.
www.youtube.com We talked about this in my last video... high probability trade, with huge reward potential I will talk about this on monday and make a video dedicated to this fractal pattern subscribe for the best info on trading @ballertrader www.ballertrader.com