BTC – Magic proportion 0.85Hi Guys!
Once again thank you for being here!
Many of us are trying right now to figure out what’s going to happen with BTC and with the whole market.
As we predicted we didn't fall below $5800 ("WE ARE SAFE WE WON'T GO BELOW $5800" down below analysis).
Don’t worry within couple of years it will be worth trillions. The whole technology will change economy market irreversibly and on the large scale. Keep your finger on the pulse.
Reuters made a poll recently among financial institutions asking whether and when they are willing to invest into crypto. 20% of them claimed they would do so within next 12 months and 72% of those 20% would do it within next 6 months. So we can expect institutional money flooding in still in 2018.
Second half of the year will be much more interesting and thrilling.
So what we have today for you…
We observed that each time we have had a local peak the price was around 85% of the price from the latest peak. Please look at the chart. When you compare those prices and calculate their proportions they are surprisingly alike.
Next stop at 8,5K or do we go further and break 10K? What are your expectations? When that can happen?
Anyway we think it’s worth watching this level and act accordingly.
Let’s dive into technical analysis.
Yesterday we had a nice bounce off breaking level of $6000.
Gann Fan – waiting to break 1/1 level which states price and time are in a perfect match. We need a price to grow up faster than time. Observe 2/1 level. It will be safe level to enter. This level means breaking $6400-6500.
We observe falling wedge pattern which is very bullish
We crossed volume weighted moving average – very bullish
We can positive divergence on RSI
MACD positive divergence
Weis Wave – finally volume on demand has shown up and no signs of supply yet
Guys what do you think about our magic proportions?
Thank you for comments, private messages and likes.
Do not forget to follow – we know it’s a trite but it really helps :)
HUGHS
WBM Team
