BTC - Valentines Day profit soon over - beware China new year
Updated
Bitcoin to go up late tomorrow, but not ready to break resistance since we are still in a bearish channel. should reach around 10,500 then fall to lows in 5K area to reload.
I am making my prediction based on historical trend line. History repeats itself. (See my previous chart with reference to historical basis.)
Also to consider - the Chinese New year today, on Feb 16th. They may plan to take profits around this weekend. Could be the perfect storm that drives the price down. But we'll see ...
I hope to take profit on all crypto, then ladder in as the price drops. total to 60% @ 50% and 80% @ 61.8%
Long term: I believe we will see the bottom finally complete and slowly move up and peak again around july 6th.
I am making my prediction based on historical trend line. History repeats itself. (See my previous chart with reference to historical basis.)
Also to consider - the Chinese New year today, on Feb 16th. They may plan to take profits around this weekend. Could be the perfect storm that drives the price down. But we'll see ...
I hope to take profit on all crypto, then ladder in as the price drops. total to 60% @ 50% and 80% @ 61.8%
Long term: I believe we will see the bottom finally complete and slowly move up and peak again around july 6th.
Note
10300 resistance to break. closing bar above should move us higher to target near 10500-11,00 plus but not past.Note
Forget that number of target. I meant to say whatever the price is when we reach the over all downtrend resistance.Note
They couldn't wait to hit the resistance, so close enough! They say "gee me my money! I wuv America!" (chill out. I'm asian) and it's time for the Asian invasion.Beware there may be a sideways calmness then possibly a bull trap before we take more!
Buy Range: 8,000-8,600
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