BTC has fallen below the sideways resistance (solid black line) it appeared to have broken out from. When the daily prints below $6,425 we'll have confirmation of this. Within the next month I expect to see candles printing below $6,000, which will prove that BTC is forming a descending wedge and not a descending triangle as others have said. If others are...
Unless BTC breaks upwards from this enormous falling wedge we will see sub-$5,000 Bitcoin within the next few months.
A more detailed explanation of my mid-term expectations for BTC.
I expect XRP to break downwards from this ascending wedge. Price is looking shaky and In my opinion needs to correct further before we can expect any more bullishness.
Let's see how this chart ages. Solid path shows my expectation of how BTC will play out over the next few days, dotted paths show other possibilities at crucial points with yellow paths representing bullish movement. I am holding a conservative amount of Bitcoin and certain altcoins, with my fiat ready for a buying opportunity.
Potential dead cat bounce after the rapid price drop we have seen over the last ten days. Fractal is shown to illustrate possible outcome. I could see this bounce going as high as $6,700 before dropping to $6,000 or below. My outlook is still short in the mid-term. I will decide soon whether to maintain or close my current small short position.
BTC forming a bear pennant. Low Bollinger Bandwidth could indicate an incoming increase in volatility. RSI and MACD are both fairly neutral, with MACD leaning towards bearish. Overall I am expecting a drop within the next few days, possibly to sub-$6,000 levels. I have opened a small short position with low leverage at $6,300. I will continue to monitor BTC...
BTC looks ready for another large downward shift - potentially after a slight rise to resistance. This chart is an update to my previous published idea: Further To Go.
Following last trade: see 'Breaking Channels' in my published ideas. I am watching & preparing for a further opportunity to short BTC at or above $6.4k. Ideally I would like to see a slight reversal and rise out of this bear pennant before opening a short position.
Messy chart but gets the job done. I'm watching & preparing for an opportunity to short BTC at or slightly above $7.3k.
Stage length analysis based on data from previous crash cycles. This model predicts reduced volatility after March 26th (approx.).
Stage length analysis based on data from previous crash cycles. This model predicts reduced volatility after March 26th (approx.). Edited for grammar.