For the last several days BTC has been grinding on the support line that has been generated by a pitchfork that connects the 2017 highs to the 2018 lows.
This pitchfork was generated in the same manner as the one from the start of the 2015 bull run which precisely predicted the top. Then in turn was used to accurately calculate the bottom of $3300. chart will be posted below
If the pattern from 2015-17 bull run continues to repeat itself and the current pitchfork support line breaks, I would expect a drop to either the 6800 or 5900 pitchfork support levels. From there we should be able to continue up to the next target of ~$13000.
I myself have exited the market and am waiting on this dip or a clear signal in either direction.
Think of support as a brick wall. Every time something slams into it, the mortar becomes weaker and weaker.
2018 Bottom Prediction:
This pitchfork was generated in the same manner as the one from the start of the 2015 bull run which precisely predicted the top. Then in turn was used to accurately calculate the bottom of $3300. chart will be posted below
If the pattern from 2015-17 bull run continues to repeat itself and the current pitchfork support line breaks, I would expect a drop to either the 6800 or 5900 pitchfork support levels. From there we should be able to continue up to the next target of ~$13000.
I myself have exited the market and am waiting on this dip or a clear signal in either direction.
Think of support as a brick wall. Every time something slams into it, the mortar becomes weaker and weaker.
2018 Bottom Prediction:
Note
seems support heldNote
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↣ depthhouse.com/
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Creator of DepthHouse Indicators on TradingView!
↣ depthhouse.com/
↣ depthhouse.com/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.