BTC/USD to drop to at least 8400 (0.618 level) ca. 30th July.
Updated
Base on Fib-retrace + my FSBGB indicator.
Not a financial advice. Just a log to test an analysis.
Not a financial advice. Just a log to test an analysis.
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Next lower target of 8400 fails = 7200 USD/BTCComment
Typo: of = *ifComment
..testing "success rate" of an analysis to make adjustments to my script.Need BTC/USD to retrace for a possible "Altcoins Run" base on historical BTC-dominance chart.
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Confirmation when BTC drops below 11k.Rejection of analysis if BTC goes above 14k and finds strong support.
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If BTC continues to stay about the red-line at such early stage of the bull market (which coincide with the 2nd bullish phase of the previous one starting in 2016); then this would mean that this bull market is significantly different (i.e. more aggressively bullish) compared to the previous trend!Comment
typo: about = *aboveComment
The more immediate support level according to the FSBGB is at ca. 10400 USD atm.Comment
>> Have we skipped the first "FSBGB historical phase" of the bear market, and went straight into the second? Time will tell.i.e. does BTC retests and finds strong support above the red FSBGB line, or does it retrace and oscillate for awhile under the red FSBGB line.
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Link to indicator used: tradingview.com/v/N0FyoIlB/Comment
Looks like BTC is heading down predicted level. Looking at the Ichi-cloud and BB, it is likely the drop down to 8400 might be for only a relatively short period (either a wick downwards then up, or going sideways for a relatively short duration, up to 2 weeks, to get rid of weak hands and for smart buyers to accumulate) before heading back up again. Meanwhile, minor (selected) altcoin pump incoming?
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