BTC Proj 2019 - LATE 2017. What happened near 11K
Updated
Going back to NOV. 2017 at the 11 K point
I thought it might be worth looking into the past to see what took place at this critical point at 11.5 K, as its a key fib. level.
As like many, I did and somewhat still do expect a correction greater than 20% along the way, and more so at this juncture. But I'm not confident.
>Will history repeat itself even though the climate and market conditions are much different.
I’m not going to tell you what to expect.
It seems back in November 2017, it had a correction of 24%.
I think another $500 to $1000 is possible, but 20%?
I'm not confident that it will be this large.. because up to now, all the rules have been broken and we have a much bullish trend than the 2017 period.
Interesting enough, on the way down (after reaching 20K), on the downtrend, we see something similar in the terms of rise and drop at this juncture.
Its exciting to see what happens.... even though I'm not getting much sleep (everything happens after midnight, based on Australian time)
> The chart shows how high it spiked in the 4 HRLY chart and how far it dropped.
From approximately 11,500 to 8,800.
NOTE: At the 4HRLY level, one cannot really see if a drop of 500 to a 1000 occurs, just like today's 4 Hrly chart.
Click if you <like> or <appreciate> the posting.
Cheers.
SS/Cryptoprospa
2 HRLY Chart
I thought it might be worth looking into the past to see what took place at this critical point at 11.5 K, as its a key fib. level.
As like many, I did and somewhat still do expect a correction greater than 20% along the way, and more so at this juncture. But I'm not confident.
>Will history repeat itself even though the climate and market conditions are much different.
I’m not going to tell you what to expect.
It seems back in November 2017, it had a correction of 24%.
I think another $500 to $1000 is possible, but 20%?
I'm not confident that it will be this large.. because up to now, all the rules have been broken and we have a much bullish trend than the 2017 period.
Interesting enough, on the way down (after reaching 20K), on the downtrend, we see something similar in the terms of rise and drop at this juncture.
Its exciting to see what happens.... even though I'm not getting much sleep (everything happens after midnight, based on Australian time)
> The chart shows how high it spiked in the 4 HRLY chart and how far it dropped.
From approximately 11,500 to 8,800.
NOTE: At the 4HRLY level, one cannot really see if a drop of 500 to a 1000 occurs, just like today's 4 Hrly chart.
Click if you <like> or <appreciate> the posting.
Cheers.
SS/Cryptoprospa
2 HRLY Chart
Note
Binance, 5 min chart.Bitfinex, 5 min chart.
Note
Were you paying attention or focused...I was then I got slack and missed out on the divergence I picked up between the 15 m to 1 hr charts. It happens quickly. Not only that, I picket up the upward wedge and still didn't act in time. Lesson learnt.
Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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