BitcoinShort
Target Hit \ High Probability Reversal | $BTC #bitcoin #litecoin
Traders,
So, there it is. Target got hit on both counts per forecast, at:
1 - TG-1 = 490.03 - 01 SEP 2014
and
2 - TG-Hi = 495.17 - 01 SEP 2014.
(See prior analysis and forecast here: tradingview.com/v/chaqqrrF/)
As per definition, the qualitative target (i.e.: TG-Hi and TG-Lo) defines an area of low-probability of getting hit due to the strain necessary to hiss price to those extremes. However, if and once price ever get there, it will act as a reversal level with high probability.
Such target is represented by TG-Hi = 495.17 - 01 SEP 2014, hence expect a significant reversal at that level. First floor will provide soft support at at 483.00. If floor holds, then the reversal scenario would have to be questioned. For now, it's reversal to lower lows as per quantitative target definition.
Once this consolidation settles, tune in for new predictive analyses/forecasts.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
So, there it is. Target got hit on both counts per forecast, at:
1 - TG-1 = 490.03 - 01 SEP 2014
and
2 - TG-Hi = 495.17 - 01 SEP 2014.
(See prior analysis and forecast here: tradingview.com/v/chaqqrrF/)
As per definition, the qualitative target (i.e.: TG-Hi and TG-Lo) defines an area of low-probability of getting hit due to the strain necessary to hiss price to those extremes. However, if and once price ever get there, it will act as a reversal level with high probability.
Such target is represented by TG-Hi = 495.17 - 01 SEP 2014, hence expect a significant reversal at that level. First floor will provide soft support at at 483.00. If floor holds, then the reversal scenario would have to be questioned. For now, it's reversal to lower lows as per quantitative target definition.
Once this consolidation settles, tune in for new predictive analyses/forecasts.
Cheers,
David Alcindor
Predictive Analysis & Forecasting
Denver, Colorado - USA
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