D4rkEnergY has finally had 8 hours of sleep tonight! That's the first first time in now 4 months - and that's all I needed to figure out THE ANSWER, you all want to know about.
HOW LOW WILL WE GO BEFORE BITCOIN WILL GO BACK IN AN UPTREND?
To answer that question I have taken a look at the Weekly BTCUSD Chart! At this very moment we are at 7,150 USD. We are in a a downtrend descending wedge-pattern, which we have been in since our All TIme High at 20,000 USD. We are getting support from an up , which started back in March 2017, where we also began our 1st . We are struggling with the EMA50 right above our head.
Firstly I want you to pay attention to the hidden . The price is making higher lows, while the is making lower lows. It means we - in isolation - could expect to continue our journey up at the before mentioned .
We can also see, that the bears slowly are losing momentum. The decrease in height on the bars (which now are under the MA20 ) and the histogram confirms that.
BUT... When that is said, we still don't have no real convincing signs or confirmation on a reversal yet. I'm not saying that we cannot go a bit higher, but we will also go down again. We will probably also see a bounce at the at 6,000 USD, but it will not be enough to send us in an uptrend!
My Ladies and Gentleman, I will now, as the first one, give you THE ANSWER you all have been waiting for:
Mark my words, guys! Remember this number. I will now tell you why, we will see a reversal at this point. Literally EVERYTHING is showing us, that this is our target.
1. It will perfectly match with our EW-structure and the (5-3-5 )-Correction!
2. It would be equal to a perfect 78,6
3. EMA100 is also there
4. In a consolidation-phase when the price is in the middle of the Purple Value Area ( ), we tend to jump between a High Node to a Low Node. As you can see, we are right now on a H.V.N.- and our target is a very short L.V.N.
5. It would also perfectly match with an optimal jump out from the narrow , at that point.
You are welcome, guys!
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Please do ma big favor and give me BIG LIKE - I put a lot of work in making these charts for you. Thanks in advance, my friends :)
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