btc2evan

btc2evan

be prepared for a 40% dump from here

btc2evan

the big downside action on the 14th of August suggesting a lower low in the coming weeks.

btc2evan

base on the bitcoin historic patterns, I think two scenarios will likely to unfold in the near future: 1. bitcoin is in an incompleted bull market and it is going to reach around $100k within the next 6 month. 2. bitcoin is in an incompleted bear market, and it is going to reach a new low around $1800 within the next 8 month. if a major financial crisis...

btc2evan

I am more leaning towards the bearish scenario right now, but let's hope for the best and plan for the worst.

btc2evan

two reasons from the technical standpoint that the bitcoin has not yet reached the bottom: 1. we have not yet seen the panic selloff with crazy high volume (aka the capitulation candle) 2. price bounced off at a long-term support level and then started showing weakness during consolidation. (hidden bear div on the daily) so I believe bitcoin will reach a lower...

btc2evan Updated 

Many describe the current price pattern as a descending triangle or a falling wedge, however, I don't think both are true. What has happened in the past few month is very simple: a 5 wave Elliott impulse waves down to the strong support level of 6k, and then forming a consolidation pattern (bear flag). It is called a bear flag is because it has a higher likely...

btc2evan

Just to state my long term price projection for bitcoin. I believe price should hit 110k sometime around Jan 2020, and the bull rally should start at the end of 2018 or the beginning of 2019. As usual, 3 bottom price predictions are listed here: 1. bottom around 6k USD with spikes to around 5k usd, 2. bottom around 4.4k USD with spikes to around 3.8k USD. 3....

btc2evan Updated 

both 3k and 30k BTC is possible this year, however, I think bitcoin has reached a local bottom since the crazy sell from 20k. And we will soon find out which direction that bitcoin is heading after testing the critical support/resistance of 12.6k.

btc2evan

bitcoin price pattern seems to be matching the market cycle pattern: www.thegoldandoilguy.com

btc2evan

BTC final move before a major correction

btc2evan

Bullish Pennant Trend Continuation Pattern formed, entry signal should open after Pokemongo Japan launch within this month.