Waiting for the next lower high touch...
*Nov. 12* Since the hashing power's keeping opt to the Bitcoin Cash chain, and the absolute hashing power of BCH surpassed the one on BTC chain, the downtrend could keep going. Price now touched 5754USD and hovering, which was the beginning point of the latest uptrend after the Diamond Top pattern formed. 1. Looking for further support at USD5280, then USD4536.
Breakout of a Symmetrical Triangle - May reach USD70.0 - Throwback supports at USD49.8 and USD45.0
-Uptrend may pass (or nearly reach) USD7110 and pullback -Diamond Top first support at USD6120
Following up on the previous prediction, A-B-C was formed. Looking for support around 4740USD.
Descending Broadening Wedges - 1-2-3-4 shows a clear uptrend in DBW pattern, and it was raised over 50% from 2 to 4. Pullback may follow. - Therefore, a correction could be coming, ONLY IF A-B-C is formed, then it will go down to D.
- Due to Segwit2x Hard Fork, the next one or two month(s) may be unstable. - The price may go down to 3673usd, or even 2493usd. - After the fall, another correction + uptrend may follow and the price may go up to 6000usd. The price mark may become a new turning point.
Due to unresolved regulation influence from China, the price may hover around the black speed line. Although it may go up to 308CNY by the middle of October, other crossing points with red circle marked in the chart are still possible.
Dead cat bounce pattern will lead the price down to 334CNY, and then 308CNY
22330CNY and 17198CNY are two major support in this dead-cat bounce pattern.
1. Price of BTCCNY may bounce around the red bold line and climb gradually. 2. Climbing back to point C, or even reach point D.
1. Price of LTCCNY may bounce around the red bold line and climbing up gradually. 2. Based on the past movements, when price climbing over the red line, its movement becomes much more emotional and dramatic. 3. However, the price will eventually touch the upper green dot line. (Comparing to what happen between middle of May and middle of June.)
When correction comes, first support range may fall on 425-435CNY, if break, then looking support by 409CNY. The uptrend will continue after the would-be correction.
The current uptrend may touch 405-410CNY, or even 425-435CNY, before decline begins.