Potential BTC paths
Updated
Hello TV,
I had created these for myself as a more detailed expansion to a previous 'rise and fall' scenario i predicted. I had kept this private for the last few days to see what would come after the CME futures releases and what not. Now the futures are currently posting bearish results for the last 4 days, LTC has its own drama as does BCash (Bitcoin Cash for those who follow in Roger Ver's brand-name grab and manipulation) which poises the market for a correction. Bitcoin has currently been following my "Blue" scenario. I created a Green, Blue, and Red scenario following decreasing probabilities. I based these approximations on the 2013 BTC crash that was experienced, the psychology of markets during 'time-frame specific crashes' , time cycles, support and demand lines, and Fibonacci importance levels.
I mainly use this as a way to try and identify good buy in points and potential swing trade ideas. Green areas are buy zones, red are sell zones if you do not wish to hodl any further. I believe in the long term bitcoin will rise but this bullrun is unprecedented and if it crashes do not fear negative media if the momentum takes a swing, stay come and realize the sales in front of you eyes.
I hope this chart is somewhat accurate and helps all of us in judging the potentials paths that bitcoin has moving along.
-
Wagner
I had created these for myself as a more detailed expansion to a previous 'rise and fall' scenario i predicted. I had kept this private for the last few days to see what would come after the CME futures releases and what not. Now the futures are currently posting bearish results for the last 4 days, LTC has its own drama as does BCash (Bitcoin Cash for those who follow in Roger Ver's brand-name grab and manipulation) which poises the market for a correction. Bitcoin has currently been following my "Blue" scenario. I created a Green, Blue, and Red scenario following decreasing probabilities. I based these approximations on the 2013 BTC crash that was experienced, the psychology of markets during 'time-frame specific crashes' , time cycles, support and demand lines, and Fibonacci importance levels.
I mainly use this as a way to try and identify good buy in points and potential swing trade ideas. Green areas are buy zones, red are sell zones if you do not wish to hodl any further. I believe in the long term bitcoin will rise but this bullrun is unprecedented and if it crashes do not fear negative media if the momentum takes a swing, stay come and realize the sales in front of you eyes.
I hope this chart is somewhat accurate and helps all of us in judging the potentials paths that bitcoin has moving along.
-
Wagner
Note
Pattern still holding relatively well. Some of the previous target ranges where a little low on my projection and have updated the prediction path a bit (dark blue lines). I have also put a previous bars pattern (from 2013-2014) as an overlay in gray. Can provide an insight as to what price action has done historically after a quick 400-500% rise.Note
Been following the Blue path consistently for weeks now. Seeing the trend potentially stabilizing around the $8-7k region and moving sideways for a bit before institutional money either takes it to 5.5k rock bottom or starts accumulating and returning positive price action.
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