I hope you enjoyed my Ethereum idea I posted two days ago. Bitcoin's chart looks similar to my Ethereum chart on a larger timeframe.
Bitcoin is forming a Running Triangle on the daily timeframe. If it completes this pattern it should drop to around the $7k mark to complete wave E. If it decides to do what Running Triangles usually do it should then breakdown further and make a nasty drop. However, it has to breakdown several big support levels to do so. Right now bitcoin touched two quite big 0.618 support levels and it could make a bounce from here, but the bounce should've been bigger in my opinion so I don't have high hopes it will hold these levels. If it breaks the 7800-7700 we will likely see $7k.
I will try and update along the way.
Bitcoin is forming a Running Triangle on the daily timeframe. If it completes this pattern it should drop to around the $7k mark to complete wave E. If it decides to do what Running Triangles usually do it should then breakdown further and make a nasty drop. However, it has to breakdown several big support levels to do so. Right now bitcoin touched two quite big 0.618 support levels and it could make a bounce from here, but the bounce should've been bigger in my opinion so I don't have high hopes it will hold these levels. If it breaks the 7800-7700 we will likely see $7k.
I will try and update along the way.
Nota
So it dropped like crazy yesterday. No bullish signs yet thus I expect to see a drop to the bottom of the Running Triangle. On the short term I can see it move up to $7800 to make a further drop down. I'm going to add to my short position at that level.
Nota
It's going great so far, next target: ±$5k
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.