Unfortunately Bitcoin won't hit sub $4K or over $14K in 2018 as previously predicted. In an ideal world, if Bitcoin was following standard market cycles, perhaps it would happen, however Bitcoin is anything but standard.
But have no fear, if I'm right, this is a great time to buy. Bitcoin should rise from here to $9K within the next 30 days.
Price should then...
I might have been too quick to invalidate this idea. It's just we're at a point where price could go either way. My gut and experience says this bullish breakout scenario has a good chance of happening but I guess time will tell.
I'm still bearish. We're still heading sub $4K. It's question of when.
The situation now is I think we will see a considerable breakout up to $9K first creating a double top formation (A + B).
Price will then rocket down to sub $4K sometime in late October/early November.
If you know about Gann Fans, you know it's quite possible for Price to sometimes hug the trendline before continuing on in it's previous direction.
Could this be what's happening here?
We should have our answer sometime this week.
I think this is what will most likely happen. I see two inverse Head & Shoulder patterns, one within another.
Once finished this segment will pretty much just look like a bear flag on the 4H and below timeframes.
After we reach the top of $6900ish we should fall to $4.8K. I think we may begin our decent Tuesday 21st August.
Currently in a retracement then 2 more legs down. We hit the bottom at $3750 within 4-5 weeks, hopefully sooner.
Get ready to load up your bags. Moon rockets will be fuelling for take off closer to this bottom level.
It won't stay at this price for long.
What I think will happen based off harmonics, fractals and experience.
I don't think 10K is happening right now as some people have said and shown in their ideas. I think sub 4K hopefully by mid September.