Bitcoin clearing moon and going to Mars?
Updated
Here it appears that we have just seen a double-top. If so, we can expect the breakdown to around 7xxx-8xxx mark.
From there, it may bounce up and if so, we will have to watch to see if it falls back down to form a head and shoulders.
IF it forms the head and shoulders in the future, then we can see a dip to 4xxx mark approximately.
From there, I see the rise, as we are looking at the former pattern as a fractal to consider as both a smaller pattern for smaller trades, but a larger one for larger trades.
All in all, it appears the whole chart for this period is a bowl, which is forming into a cup and handle.
I could be wrong...but hey, be prepared!
From there, it may bounce up and if so, we will have to watch to see if it falls back down to form a head and shoulders.
IF it forms the head and shoulders in the future, then we can see a dip to 4xxx mark approximately.
From there, I see the rise, as we are looking at the former pattern as a fractal to consider as both a smaller pattern for smaller trades, but a larger one for larger trades.
All in all, it appears the whole chart for this period is a bowl, which is forming into a cup and handle.
I could be wrong...but hey, be prepared!
Note
I've been shown the Elliot waves for this chart, which seem to confirm it too. Let's see how it goes. It's nearly time.Note
Well, as at the end of September, the first part is spot on.Trade closed: target reached
This analysis was spot on. It did dip fractionally, then flew up, even past expectations. Now I'm a little more conditioned, and have a better, albeit not perfect grasp of where it can go to.
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