Bitcoin ready for a bigger correction?

3 thg 9, 2017

Hello traders,

We expected Bitcoin to reach the $5000. Now, we are expecting a bigger correction in Bitcoin as long as it stays below 4990.58 (Invalidation level). When it breaks 4990.58 we need to readjust our view!

We won’t be surprised when Bitcoin corrects to the 38.2% Fibonacci retracement which comes at around $3200. Our Intermarket analysis is indicating currently that bitcoin has a potential to correct the $0 line, which basically means that bitcoin can correct from $0, 38.2% or more. Also, we have a intermarket divergence in our own calculated indicator below.

Obviously, we don’t know whether it makes a bigger correction or not, BUT our intermarket analysis is indicating it, so we won’t take any long position at this stage anymore, as we made good money last month.

We don’t like selling it we will be now on the sideline.

Hope that helps

Cheers

5 thg 9, 2017

Ghi chú

BTC/USD is going like expected

5 thg 9, 2017

Ghi chú

6 thg 9, 2017

Ghi chú

we still expect more downside. Keep in mind that we are believing that bitcoin is in a daily correction

7 thg 9, 2017

Ghi chú

it broke the wedge formation, it should continue lower, but we dont like selling it!

8 thg 9, 2017

Ghi chú

I told you guys to be careful, see we were right, bitcoin is dropping very hard:

14 thg 9, 2017

Ghi chú

We are very accurate on this one! You shouldnt be surprised!!