If you believe in Wedges or Flags or Triangle, here is one.
Technicals
Break out to the upside targets are 13.5 16.2 and 19.9 again. Ballpark.
Break out to the downside and there's options. Futures have a GAP waiting between 8.4 - 9K. Fibs and MAs collide around 6K.
August 19 we'll know something. Price already broke another triangle that was forming. This week we'll see if we stay inside the wedge and build pressure, or if bitcoin fills the gap.
Fundamental Analysis: Trump Effect. More Governments and Institutions taking steps to regulate. These could stabilize price. However Tether is still a printing machine. Yesterday's Fat Finger printing of 5 billion, will be excused as a mistake. But price just says it recovered upon printing and continued bearish upon burning. Bitfinex Orderbooks are Stacked in Ladder Fashion and will only be added to upon any dip. Exchanges are closing for "Maintence" may be attempt to slow shorts and withdrawals.
Outlook: I'm bullish cuz Bilderberg Wins. But short term possible correction and test of 6K. Possible stability at 6K and wouldn't that be a surprise, to see how major adoption really effects price by adding a stability. But eventually a continuation to 21K. 20K is the new bottom someday.
Futures Gap
www.tradingview.com/...utures-Mind-the-Gap/
Weekly
Technicals
Break out to the upside targets are 13.5 16.2 and 19.9 again. Ballpark.
Break out to the downside and there's options. Futures have a GAP waiting between 8.4 - 9K. Fibs and MAs collide around 6K.
August 19 we'll know something. Price already broke another triangle that was forming. This week we'll see if we stay inside the wedge and build pressure, or if bitcoin fills the gap.
Fundamental Analysis: Trump Effect. More Governments and Institutions taking steps to regulate. These could stabilize price. However Tether is still a printing machine. Yesterday's Fat Finger printing of 5 billion, will be excused as a mistake. But price just says it recovered upon printing and continued bearish upon burning. Bitfinex Orderbooks are Stacked in Ladder Fashion and will only be added to upon any dip. Exchanges are closing for "Maintence" may be attempt to slow shorts and withdrawals.
Outlook: I'm bullish cuz Bilderberg Wins. But short term possible correction and test of 6K. Possible stability at 6K and wouldn't that be a surprise, to see how major adoption really effects price by adding a stability. But eventually a continuation to 21K. 20K is the new bottom someday.
Futures Gap
www.tradingview.com/...utures-Mind-the-Gap/
Weekly
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the circle near the 66MA is also near the Gap Zone from Futures.
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