200 week MA has been tested just like it did years ago.
0.618 extension also mirrors 2014.
At this stage, we may get a rise then a little drop to pierce the 200 week MA. However, by then, it doesn't look like the price value will actually be lower than what we've seen in December 2018. That mean's the bottoms' already in.
It's time for the revolution! Don't...
It's the dead dwarf bounce. Should take us to the vicinity of the .618 line (if not as high as 0.5) line. To be safe, I'd start shorting from 6700, which is just below a .786 retracement between the 2 levels.
And then it's back to the shadow again.
Around the turn of Apr/May, we saw a similar pattern. 2 attempts at touching the 200MA, after the 2nd one failed, down we went.
With the 200MA currently dropping day by day, it's possible we may not even reach 8500 before the big dip we've all been waiting for happens.
I think we'll go down for just a little bit more, then go up (false rally or C wave of the correction) until it hits the 0.38 fib line (approx $11,300) before crashing down in an impulse 1,2,3,4,5.
I would buy now, sell close to 0.38 fib then watch the house of cards burn.
Then buy the ashes as tickets to the moon.
It SHALL NOT MISS!!! This appointment. I also have a feeling that all these quick price jumps are just bigger investors getting in, so they can contribute to the final DIP by selling when consensus has been reached that we're going down again.
Also, looking at how well behaved the log graph is,... I don't think there's really much more in this bull trap.
So I got a little gung ho and tried predicting WHEN we would see our lower low. Yea, that didn't work out. So maybe I'll hold off on the WHEN for a while. In the meantime, the last time we saw the German Flag Colors of Black, Red and Gold as per my graph, the price tanked.
It's german flag time again and I'm looking to buy back cheaper coins. I just don't know WHEN :)
We're going down. The current uptrend looks like manipulation to buy time so that the decline isn't too steep. I'd say to be safe, set buys to below $6k but expect that it could go much lower. A wizard knows better than to catch the perfect bottom. The charts are still on track to mimic both the earlier Nasdaq decline (2003) and the previous bitcoin correction...
Every time fib lines have approached so far, it's been a good time to sell. The magnitude of drop seems to be at the 0.236 line in each instance, compared to a lower level of support. If the pattern continues, it will go to 5778. I think it will go lower, but that's what THIS pattern suggests. I expect some FUD to come about in the news to take the "blame" for...
As per the image, you can clearly see where we're at currently. BTC has been mirroring the 2014 BTC chart nearly perfectly. The big V dip has occurred ($USD 6k) and we're nearly at the point where we go down for the final dip.
This view is considered risky. Very few...