Part 2: Short Time Frames; June 6th to June 8th to Resume Upward
The question is how far will we have come down by that time; if any; before we resume upward pressure on June 6th to June 8th. June 10th may be the latest date for reversal to upward pressure. June 6 to 8 is more likely. Especially, Friday, June 7th.
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First stop was that Blue Trend Line:
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We could bounce around inside the blue rectangle a bit for a while in the 4h... We'll see...
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This is the 4h... However, it would not be good if a Daily Candle closes below the Green Diagonal Rectangle:
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This will continue dropping for quite a while now.
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We may see $6,500
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The reason I'm saying to $6,500 is to the 0.618 FIB Re-Trace (RT):
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What I'm about to say involves the chart posted above this current post. We may go down only to the 0.50 FIB at $7,004.40 then bounce back up to the $7,820 area again. We need to see if we can break through the resistance at $7,820. I believe we can.
If we end up falling further to the RED 0.618 FIB @ $6,50.59, we need to get to it no later than June 10, 2019 in my opinion. In other words, we don't want it to take its sweet time; stair stepping down to the RED 0.618 FIB. Otherwise, there may be no Lite-Coin Block Halving Pump and Dump before the Block Halving.
If we fall further to the PURPLE 0.618 FIB at $5,528.09, this will also mean the Lite-Coin Block Halving Pump is over and we found bottom at $5,528.09 for the purpose of Re-Accumulation.
If we end up falling further to the RED 0.618 FIB @ $6,50.59, we need to get to it no later than June 10, 2019 in my opinion. In other words, we don't want it to take its sweet time; stair stepping down to the RED 0.618 FIB. Otherwise, there may be no Lite-Coin Block Halving Pump and Dump before the Block Halving.
If we fall further to the PURPLE 0.618 FIB at $5,528.09, this will also mean the Lite-Coin Block Halving Pump is over and we found bottom at $5,528.09 for the purpose of Re-Accumulation.
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Posting an a new video. It's taking it's sweet time about up loading. So, NEED TO LET YOU KNOW WE ARE GOING DOWN AGAIN. MORE DETAILS COMING UP IN THE VIDEO IF IT CAN UPLOAD SOON ENOUGH.
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It's still uploading... Coming back down to $7,498.20 for sure. It's very possible we come down to my 0.5 FIB at $7,004.40. COULD possibly come down to the 0.618 at $6,510.64. If we go down much below that, then we could easily see close to $5,500 with close to a 39% drop.
Still waiting for the video to finish uploading. TradingView must have a LOT of traffic. It's normally not this slow uploading.
Still waiting for the video to finish uploading. TradingView must have a LOT of traffic. It's normally not this slow uploading.
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UPDATE on our BTCUSD BitFinex (Top); BTCUSD BitFinex Short Contracts (Middle) and BTCUSD BitFinex Long Contracts (Bottom): This current level of short and long contracts are coming close to lining up with what I have circled back in 2017 before the hard pump.
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TradingView must have a LOT of traffic. It's only a 3rd of the way done uploading. I know it's not my end. I have 200 MBps Downstream and 10 MBps Upstream. 16 minutes have passed during this upload. Which means it may take another 30 minutes before it's finally uploaded for the remaining two thirds.
Stay Awesome!
; )