My bullish case is a move down to the .382 fib and the historical trend line then a reversal end of the year.
My bearish case would be if we break the .382 and the .5 fibs we may move down to retest the 200 week MA. If the 200WMA is broken we could expect sub 3k prices (note bitcoin has never broken the 200 week MA).
I also think that if the price continues to...
I think we are forming a flag pattern and that we are in an ABC correction.
Once completed we will work our way down to the 300 Weekly MA that I'm expecting to come in at $2500 in May.
Appreciate any feedback, thanks!
PS Check out Murad Mahmudov on twitter for further explanation of the 300W MA @MustStopMurad
Blue Fib timeline creates resistance where we swing down.
Dotted green vertical lines are half way between our main blue fib lines and indicate a swing up.
This pattern has been spot on since the bear market began, if this pattern continues we will see a downturn on the 26th August till the 21st November when I will be looking to buy again at the 5k range though...