Looking for possible moves in BTCUSD
Updated
First of all : I see 3 cases in BTC :
1)BTC is doing a V correction and is going to the upside and will mark a top in the 72-85k price range and after that a correction of about 40-50% will likely happen based on historical runs of 2013 and 2017 where BTC has crashed at a steep pace after marking its top and retracement back to about 70% or (in fib 70.2) where most alt coins complete their bull runs. Some alts finish along with BTC based on historical data .EG : LTC,DASH,BCH,etc.
2) BTC is doing a ABC correction and will go down as deep as 35k and will see a reversal and will move upward as mentioned in point 1 .
3) BTC has marked it's top and is on a correction and may go as low as 30-35k price range and do a final retracement to about 55-58k price range where reversal will happen .However i find this very unlikely but again it can happen .
IF BTC played out like expected then i expect BTC to bottom down between 10 to 14k price range.12k USD price is what I'm seeing as bottom.
I stay entact to what I said in previous ideas and the data mentioned here is in reference of those ideas.
#These factors rely on BTC topping out during the 70 to 85k price range based on the 2013 bull run.
#Consider this invalid if BTC breaks 100k USD
#DYOR
#This is not investment advise
1)BTC is doing a V correction and is going to the upside and will mark a top in the 72-85k price range and after that a correction of about 40-50% will likely happen based on historical runs of 2013 and 2017 where BTC has crashed at a steep pace after marking its top and retracement back to about 70% or (in fib 70.2) where most alt coins complete their bull runs. Some alts finish along with BTC based on historical data .EG : LTC,DASH,BCH,etc.
2) BTC is doing a ABC correction and will go down as deep as 35k and will see a reversal and will move upward as mentioned in point 1 .
3) BTC has marked it's top and is on a correction and may go as low as 30-35k price range and do a final retracement to about 55-58k price range where reversal will happen .However i find this very unlikely but again it can happen .
IF BTC played out like expected then i expect BTC to bottom down between 10 to 14k price range.12k USD price is what I'm seeing as bottom.
I stay entact to what I said in previous ideas and the data mentioned here is in reference of those ideas.
#These factors rely on BTC topping out during the 70 to 85k price range based on the 2013 bull run.
#Consider this invalid if BTC breaks 100k USD
#DYOR
#This is not investment advise
Comment
The purpose of this idea was to seek alt season condition and well alt season is happening and the bear market will start the btc season again till the next bull market
Related publications
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.