Let's Flip a Bitcoin Issue #2Good day, today Ladies and Gentleman,
It's your host xR, welcome to Let's Flip a Bitcoin. Let's take a look at what's been popping on Bitcoin. Shall we, jump into it? Last week we provided you all a continuous update through the mountainous peaks and valleys. Bitcoin displayed no mercy towards thousands of over-leveraged investors. In our previous analysis, we uncovered Bitcoin's final signal at seven-thousand four-hundred dollars per Bitcoin before it billowed back above the two hundred day moving average. Hitting a height of ten-thousand five-hundred dollars price per Bitcoin.
Viewing the fifteen-minute chart you will observe a confirmed Bullish Kangaroo Tail Signal at seven-thousand three-hundred eighty dollars price per Bitcoin. Although the signal failed on Bitmex, it was confirmed and led by price actions shown on Bitfinex Exchange. China's commitment to adopting Blockchain technologies amplified its effects. These recent events confirm previous suspicions of the expected outbreak. Let us take a close look at the widened perspective to assure we are in the correct alignment to secure a proper market entry for our HODL position.
I have outlined the two hundred day moving average in green. We broke clear above its trajectory. Ballistics might have a different opinion about the path of direction Bitcoin is taking though. This isn't the anti-gravitation projection vehicle we were hoping for this year. The slower gradual wavelength of the two hundred day moving average seems to be supporting this formation. I would anticipate we will have a much more subtle climb back to higher price regions. I'm looking for a formal entry with clear signs of market fatigue. The projected course of this wave would indicate that period being sometime early next early.
We are entering lower zones within the projected zone of strength from the formation that led to a height of fourteen thousand dollars price per bitcoin. In a bullish scenario, I'd prefer to see price stabilize above the sixty-eight Fibonacci zone. Additionally, we are in alignment with the projected downward trendline. This minor consolidation doesn't display the strength I'd expect from a parabolic movement upwards. I'm still quite bearish. I suggest building a low leverage short into semi-higher price points around ten-thousands five-hundred dollars price per Bitcoin. Thanks for tuning in for this update on our Bitcoin Price Analysis with me, your host, xR.
