This ruling happens at an interesting point on the chart ( 2/6 ) Obviously the notion is that the news will be negative, but.. i guess im channeling my inner optimist here..
I know.. better probability of hell freezing over, but thats why im calling this a moonshot lol
Then we could have been looking at something like this instead: 1. The drop from our key 10100 level was the "X" point on a Butterfly 2. The 9650 level would get rejected as planned, but instead of bouncing - it was the start of the 8000 test 3. 8000 STILL holds, and is a great long entry. 4. We go somewhat sideways till 2/6 getting rejected at every resistance 5. The SEC Shocks the world and has GOOD news on 2/6 to signal the "D" leg of the butterfly and the last leg of the inverse H&S thats been forming 6. Theres been a possible inverse H&S forming since we dropped from 11000 - i dont have much faith in him tho, hes pretty ugly.. and Bitcoin seems to spit on inverse H&S lately lol.. it bolsters the prediction though
Key levels to watch in this scenario
9650 - If it gets rejected for good on this current run, and does not bounce off 9350, then we go down to 8000 - signifying to me that this current chart is correct
8150 - 8000 is STILL a good long for either scenario
9350 - After bouncing off 8000, if we take off immediately to the 9350 resistance, then were looking at THIS and if we piddle around and go sideways into 2/6 then were looking at this current chart setup.
IF NEWS IS:
Negative - target is long term trend lines of anywhere from 4000-6000 - see other chart ( bit.ly/2DWZEXG )
Positive - first targets are: 10800 ( fib ) 11800 ( fib ) 12600 ( fib + top of bear trend line ) - possible end to bear market
News will be the driving factor here, either to an end of the bear market, or a MAJOR test for Bitcoin
Please take a look at both scenarios ( bit.ly/2DWZEXG ) and drop your opinions in the comments!
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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.