As predicted the equity markets are bleeding out. Look for Bitcoin to be the new go to for the next several months as the traditional financial markets bounce back. 2/8 to 2/9/18 was my prediction for the top of the current equity market bull run. Asian markets continued to tumble after a dismal day on the DOW and NASDAQ. Whales and Investment bankers will begin to pump liquidity back into the market after a near 50 day correction. Bitcoin will likely find support for the 5th point of this correction wave at either $6,089 or $5,867. It could fall somewhere between these two historical support points as well. Look for a quick Bounce from the RSI Being way over sold in the an ABC pattern.
A - $8,253
B - $7,261
C - $10,819
Look for this to be a very quick move and hit point C by 2/28/18. Remember catching the bottom is like jumping without a parachute, so be careful before you invest. This is a extremely risky investment at this level and a more cautious investor would look to the confirmation of the ABC wave at 10K. Invest at your own risk.
This is not financial advice just my thoughts. Invest only what you can afford to loose.
Good LUCK and HODL!!
A - $8,253
B - $7,261
C - $10,819
Look for this to be a very quick move and hit point C by 2/28/18. Remember catching the bottom is like jumping without a parachute, so be careful before you invest. This is a extremely risky investment at this level and a more cautious investor would look to the confirmation of the ABC wave at 10K. Invest at your own risk.
This is not financial advice just my thoughts. Invest only what you can afford to loose.
Good LUCK and HODL!!
Note
Bitcoin showing positive signs and making its way to point A. As expected its a saw tooth pattern on the way up. Would love to see it to point C then we can look up!Note
Note
Stoch and RSI would be nice to see if it turned back now and MACD and volume head back up as well. Making a nice move into a perfect angle to keep this moving towards the targets and 10KNote
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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.