Crude Analysis: BTC to 8.6k USD to complete the bull-flag?
Updated
BTC might come down to as low as the 61.8% level @ ~8.6k USD to complete the bull-flag -- continuing with the current downward parallel channel movement in the short (~2-3 weeks), before breaking up to continue with the bull market pump?
This level is a good confluence with my previous macro-view of the current BTC market cycle/phase using LIVIDITIUM dynamic fib-levels, see:
Where comparing with previous market cycle, price is expected to revisit the thick grey level (which may continue to shift higher/lower as the price action develops).
But right now, it is at ~8.6k USD.
See also my less speculative TA of BTCUSD here:
This level is a good confluence with my previous macro-view of the current BTC market cycle/phase using LIVIDITIUM dynamic fib-levels, see:
Where comparing with previous market cycle, price is expected to revisit the thick grey level (which may continue to shift higher/lower as the price action develops).
But right now, it is at ~8.6k USD.
See also my less speculative TA of BTCUSD here:
Note
NOTE: BTC can break up anytime, and doesn't necessary have to go as low as 8.6k USD.The more bullish sentiment may suggest that the ca. 78.6% Fib retrace is already sufficient.
But just thought its also good to consider more bearish scenarios/possibilities.
Note
BTW, this is meant to be a "Neutral" analysis. Not calling for a "Long" or "Short". But TV doesn't update the edit to correct this after publication. =\Need to continue to monitor the chart instead to pin point breakout event, and then decide the next move.
Note
Latest chart. PRISM Signals signaling "sell" now. Expect price to continue within the descending channel rather than breaking out higher..Longer term still looking bullish for BTCUSD.
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