KyleHoffman

KyleHoffman

I am looking at a consolidation bounce here til Mid July - August

KyleHoffman

I'm not expecting a recession quite yet but another 10 - 20% drop just below the 200 weekly moving average.

KyleHoffman

I'm interested in investing in this company but will be on the sidelines watching this play out to see if the previous support around 6.30 will hold.

KyleHoffman

this is what will happen if 2018 follows 2014 exactly. this is gonna get rough

KyleHoffman

If it holds at the trendline then she should be fine. Given how oversold she is, she could go up from here before meeting resistance at previous support of 6700 - 6800 as you see in the head and shoulders with a clear neckline (or could go retest 200dma again). However, sentiment is really bad. I'm seeing a bear flag forming for test of 6000, 5900 and 5800. Since...

KyleHoffman

Trying to predict when this bear market will end is tough. But it seems like this one is going faster than the one in 2014

KyleHoffman

This leads me to believe we could be seeing a massive short squeeze in the coming weeks, similar to what we saw back in April. I'm still seeing downside to 5800 as a high probability. Possibly lower to 4000 if 5800 breaks with no bounce, in which case it would be likely for July and August to be bearish...though if we keep adding shorts at this rate, it might make...

KyleHoffman

Pretty neutral territory right now. Not sure how fast we will move in either direction, or if we will continue sideways for a while. c

KyleHoffman

Looks like it is trying to find a bottom after the correction. Many are speculating it will run out of steam around 8000 then drop again, this time lower than 6000.

KyleHoffman

I noticed a long term pattern and bullish case for BTC to go much higher this year if it were to follow the pattern in 2013 and 2014. Many bearish people cite the 2014 crash as a model for the bear market happening now. But many of them also choose to ignore the run up in 2013.

KyleHoffman

Bounced off 50dma and appears to be respecting the long term uptrend. One more flush-out to support in mid 7000's is on the table before recovering. Stochastic RSI looks like it may stay down low for a bit but expecting it to run after that. No real bad news or reason for the drop.

KyleHoffman

I as well as some others underestimated the level of correction. I'm seeing possible continuation to 8800, though many indicators seem to point to 9100 holding. Only time will tell.

KyleHoffman

Maybe sideways trade and then retrace a bit, having trouble breaking 10k. Could sell off to 9500 - 9600 or as low as 9350, then continue up. Or, could trade sideways and break 10k. I am leaning bearish but only for short term.

KyleHoffman

I think we are in a bull run to retest 11.7k. Should break above 10k, then retrace a little.

KyleHoffman

Could be totally wrong.