BTC bottom? Temporarily yes. Ultimately no.

6 thg 2, 2018

BTC slightly broke the downward channel and bounced back to 7k+. However, it is still high above the green dots trend line, which means we haven't reached the despair phase yet. We will see a temporary retrace to as high as 9k5 (most optimistic target) and then start another inevitable fall. There are crazy amounts of resistance above 9k and I think BTC won't stay there for long, if it ever goes there.

Sell target 1: 8k
Sell target 2: 8k5
Sell target 3: 9k

Buy target 1: 5k5 - 5k7
Buy target 2: 3k5 - 4k

The next support will be 5k6. I hope it will find bottom there. If not, 3k would be the ultimate bottom.