About meI am experimenting with remote viewing techniques and lucid dreaming to make predictions about the price of Bitcoin. I've been fairly successful so far. Follow my journey on Twitter @BTC_Dreamer. Entertainment only!
This uptrend reminds of the one from April where ETH was outperforming BTC in gains. We're starting to see that now where BTC is steadily moving up in this consolidation while ETH already broke out. This uptrend can be even more aggressive because everyone and their mother is shorting, so until that stops, we're going up. Please be careful shorting this market....
I'm looking for a repeat of this triangle pattern and just praying it doesn't properly break down with an equal measured move. Also looking at ETH to form a bottom around 165 - 195 and become RSI oversold on the weekly, which I think should be a good signal for either full reversal or at least a bigger mercy pump across the board.
ETH really wants to go up, BUT this diamond reversal pattern in ETH longs and the LONG/SHORTS ratio at 2.0 is making me do a double take. I think we have further down to go in this leg before a huge bounce to mid 400s. The market rarely lets the majority win.
Based on severely oversold 1D RSI, I'm predicting a bounce here to .382 fib level from the last rally to around $480 only to return for a last leg down to $167-ish. After that, I'm expecting a few months of side action between 160s and 300s followed by the next bull market.