The below are the 3 scenarios i see playing out due to us looking to be at the end of the third drive up.
(Green) Bit of an odd one due to the $1000 level being broken.. it could prove to be support and effectively has done twice already when tested. The longer it takes the more likely those who are expecting a ...
Silver is trying to move out of this downward chanel, if it succeeds upwards its going to test $17.50 if it fails it is going to test $16.
I wont trade it beyond this point with leverage but will still buy physical as its a great buy oppotunity!
Looking for a break either way.
I posted a bit of fun earlier but this is what is envisage occuring in the next 10 days or so.
We could see a retracement following this to the 50% fib levels of the move as a whole.
For the record, i closed my 10x leverage long at $779 last night opened in the idea referenced below, as i could see the sell ...
Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2).
On this basis this Chart illustrates the journey Bitcoin has been on and it is quite clear where the journey is headed (exponentially upwards) and is the reason ...
Post halvening obviously miners revenue takes a big hit.
Looking at this chart, Bitcoin Price has not yet responded to bring the two back into equilibrium.
Assuming Demand can sustain a price of around $970 my target is adjusted here on this economic basis alone.
Supply will be limited to an appropriate price ...
Resistance zones are holding strong at $770-$773 with pullbacks into the 60's
Profits taken already at $770 due to weakness
Expecting a pull back to previous levels of support for leveraged re entry at $755
Just an idea. Do your own analysis :D!
Driving upwards targets make sense to me on the basis of market memory.
Targeting $930 with pullback to current level.
If there is a 4th wave which is admittedly less likely, $1085 and new ATHs would be the next target.