BTC crash to 8K

6 thg 8, 2019

BTC appears to be in a descending triangle. The green fibonacci circle taken from the 2018 all-time high to 2018 capitulation shows that BTC is close to crossing over. I expect once it does cross over, BTC will fall to the bottom of the triangle. Descending triangles typically break to the downside, so I expect much further downside. With long positions outnumbering short positions by 3 to 1, this is not the time to be bullish. This is when the market pulls the rug out from beneath you. I expect the crash to happen this week. If you want to be bullish, then wait for a better entry point.

7 thg 8, 2019

Ghi chú

Downside targets are the following:

21 day EMA at 10.6k
50 day EMA at 10.2k
100 day EMA at 9.2k

14 thg 8, 2019

Ghi chú

Bitcoin hit my first 2 targets, the 21 and 50 day EMAs. 10.5k is strong support, so Bitcoin could rally before continuing the downtrend.

15 thg 8, 2019

Ghi chú

Bitcoin hit my third target, the 100 day EMA at 9.5k. It found support on it and started to rally. From a contrarian perspective, the high level of fear in the market right now is a bullish indicator. I expect a rally to the top of the descending triangle in the month of August. A retest of the Fibonacci retracement gives weight to this expectation.

25 thg 9, 2019

Đóng lệnh: đạt mục tiêu

Bitcoin dropped to $8159.