It seems that it can’t clear the buyers at 9500.
There is a High Probability for a bounce at this point and potential targets are 10220 & 11150
The idea should play out within the next 24 hours.
Below 9100-9300 it gets invalidated
The market was quicker and more aggressive than expected. That lets me too not the target of 8700 will not be achieved. The high probability scenario now is for Bitcoin to bound up to $11,000
For more contact please refer to my previous ideas attached below.
The direction is Bearish but there are some potential scalps, even potential reversals if the market decides to.
8700-9000 Watch this level!
High probability for a great scalp or even potential reversal
As predicted in the preview idea, BTC topped around 12700.
The next move, in my opinion, will determine whether Bitcoin is headed towards major correction or not.
On the bigger time frame it looks to me that an ABC correction is developing.
Is this a flag or descending triangle?
To me it looks more like correction time. Monero had several moves up, now the high probability scenario is favouring a correction.
Please refer to the chart for potential targets.
The market is volatile. We expect the violent moves up and down to continue.
Since yesterday evening the price action paused , with the price moving on a $200 range (11600-11800).
The high probability scenario would be for a drop sub $11,000 (10750-11000) followed by a move upwards.
I wouldn't be shorting at this point as the market seems unsure for the...
Again, as i am posting it the price moved..
care for teh red scenario
Take profits at the red boxes
If there was more consolidation i would have been more confident that the 12300 will be reached,
Since the break occured already it is more wise to exit at the first target most of the position.
The price is moving fast as I am typing so,
btc hit the 0.61 fib level (7500 to 13700) and the 0.382 fib (4000 to 13700)
So a bounce to the 0.382 and 0.236 level respectively is the high probability event. lower probability scenario a move to 9200 and a bounce to 10000
The accelerated growth speed, seems to be very similar.
In 2017 it took more than e ayear to fully develop, but this time the fractal seems to be shorter in time.
What could that entail for the near future?
For one thing I can be sure, the volatility is not stopping soon.
Personaly i believe that tthis factal will end soon, time wise but not nessesarilly price wise.
This is a period of high uncertainty. Most believe that btc will keep mooning. I think that this level is critical and the way btc interacts with this channel will define the trend for the next few weeks
Green is the mooning scenario and with Red, the re-visitation of the channel.