I foresee a short bounce here from the $9300 to $9400 range up to as much as $10,400 but overall we look likely to fall to the low $8,000 range before we can continue on the march to $16,000.
I like to read what others are posting and I have seen several analyses that suggest $8400 is a bottom target. I am being conservative by saying $8,000, especially because for the past few days Bitcoin prices are drawing outside the lines, often.
This market is not for the weak, it is for the strong. But pioneers are always the strong and that is what we are.
Best wishes on your trading!
I like to read what others are posting and I have seen several analyses that suggest $8400 is a bottom target. I am being conservative by saying $8,000, especially because for the past few days Bitcoin prices are drawing outside the lines, often.
This market is not for the weak, it is for the strong. But pioneers are always the strong and that is what we are.
Best wishes on your trading!
Note
As I predicted we continue along the falling wedge but have entered the short term bounce now. $10,400 is no longer the predicted top of this bounce. I believe it is unlikely to break $10,200 but I'm less confident in the top of this falling wedge than I am in the bottom. I have made minor adjustments to the wedge and bounce zone based on the latest data. Updated version:
Note
Just want to call your attention to the current most active trendlines. My chart is cluttered, but plot the think dashed lines on your on chart and see what you think.Note
No real changes yet. It looks more likely to go higher than stop here but it certainly could stop here.Note
Still going as planned...
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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.