BTC needs a correction for reaching the Long term Bullish projection. The daily graph shows the entrance into a Resistance cloud what should generate turbulence on either way. The most common result would be to finish the Weekly Double Bottom that is seen and started since the drop from the 6,400, therefore a drop to 2,900 - 3,000 should be expected (a 10% lower than the previous lower low at 3200). That drop should not go further as the MA200 will work as strong support around the 3,000.
As conclusion Daily shows Bearish but Weekly is Bullish (with no Volume). We need to break the 4,500 before thinking in a recovery to 6,000.
As conclusion Daily shows Bearish but Weekly is Bullish (with no Volume). We need to break the 4,500 before thinking in a recovery to 6,000.
Note
This is not decided yet as we are now in the next support. However, as more people are aware of the possible dump, movements are going to be each time more abrupt Note
The interday continues its movement following the above-mentioned pattern. If the next uptrends during this week are not able to move the price inside the Triangle I'd consider the downturn and the Double bottom confirmed Note
Longs over Shorts oscillators showing overbought signals and possible drop. Volume has not broken that diagonal yet then the worst is yet to come Note
8 hours for impact, I hope to be wrong. #BTC #BTCUSD twitter.com/MillacuraFA/status/1085487867969835008 Note
Although it was a bit presumptuous from my side to say a time of the dump, the entire market is in red as I mentioned yesterday. The entire idea is still in play. Order books from different exchanges have already changed and supports were moved to 3500, 3200-3300, 2800 and 2200. Note
This idea is back on track and short term targets are depicted. twitter.com/MillacuraFA/status/1087662069313343489 
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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.