Going timber?! Nah, forget it!
Updated
What's going on guys!?
This is my idea i told you last time about, and is based on fractals.
Fractals are similar patterns that tend to repeat. Like summer and winter, like day and night. We have lots of cycles around us and that's how everything on this universe works.
So this time i took 2017 year's price chart and I realized that we're following it again (details in my last idea - linked at the bootom).
So where are we? Just look at it. Following day by day. Point after point. No big brainer here.
We're climbing up and creating a reversal pattern - Inverse Head and Shoulders. It does't have to realize, but let's assume it does.
Inverse Head and Shoulders is just the opposite of a head and shoulders and is used to predict reversals in downtrends.
And we have a mini downtrend from our latest ATH. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises, the price falls below the former trough and then rises again, finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
It's a reversal pattern so it predicts we're going up. Possible reach of this formation is equal to distance of head and it's base and is marked on our chart.
According to this we can expect new ATH in a matter of week(s?). We should hit ~
67K and then go even higher. Then please be careful. We may face a vast drop to even ~60k.
To make it happen we must break through a strong resistance area around ~$58-60k,
Meanwhile, perhaps it's a good time to go all-in on BTC?
What's your point of view?
Let me know please in comment section and don't forget to hit the thumb button.
Cheers!
This is my idea i told you last time about, and is based on fractals.
Fractals are similar patterns that tend to repeat. Like summer and winter, like day and night. We have lots of cycles around us and that's how everything on this universe works.
So this time i took 2017 year's price chart and I realized that we're following it again (details in my last idea - linked at the bootom).
So where are we? Just look at it. Following day by day. Point after point. No big brainer here.
We're climbing up and creating a reversal pattern - Inverse Head and Shoulders. It does't have to realize, but let's assume it does.
Inverse Head and Shoulders is just the opposite of a head and shoulders and is used to predict reversals in downtrends.
And we have a mini downtrend from our latest ATH. This pattern is identified when the price action of a security meets the following characteristics: the price falls to a trough and then rises, the price falls below the former trough and then rises again, finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
It's a reversal pattern so it predicts we're going up. Possible reach of this formation is equal to distance of head and it's base and is marked on our chart.
According to this we can expect new ATH in a matter of week(s?). We should hit ~
67K and then go even higher. Then please be careful. We may face a vast drop to even ~60k. To make it happen we must break through a strong resistance area around ~$58-60k,
Meanwhile, perhaps it's a good time to go all-in on BTC?
What's your point of view?
Let me know please in comment section and don't forget to hit the thumb button.
Cheers!
Note
So far so good. We fell a bit more, but still this ~55k level was expected. BTC is still creating inverse H&S patternStay tuned!
Note
We're still good following this patternInverse H&S has just realized and we must hold now, keep the price above ~$58,5k lvl and we're on our way to the new ATH.
Stay tuned!
Note
It's really close guys.All we need to do is to keep above ~55,5k and break through ~59k and close daily candle above this lvl
Stay tuned!
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