I've been waiting for this moment for some time now. Expecting a correction from about 9000 to around 5000 area.
I think this chart is pretty self explanatory. Interesting times indeed...
I'm still waiting for BTC to reach it's Longterm upper median line (about 9000). If reached we should get a correction to around 5k, I dont expect it to go lower but other targets would be around 4000 and 3000. Now if we don't reach the upper median line... Well theres a rule I follow and it works 80% of the time .It says that if price fails to reach the next...
Bitcoin hype is insane. I'd go so far as to say it's in the delusional phase. Everybody seems to have forgotten the market moves both ways... Could be wrong. Nothing is written as to say. But odds are good that this correction will atleast test it's uptrend median zone which is at around 3.220 USD.
Price action hit longer term median line. Reversal here is very probable. Minimum target being around 0.99
Price action is approching a potential buy zone around at 0.09000. Yet it seems this should only be a relief rally. Further downside action is probable.
Cryptos are still in a bubble. The swings are huge. Good opportunity to make money. Odds are that this move in ethereum is about to turn to the downside again.
It's risky to buy ATM we see the TSI sloping downward and and we have not tested previous breakout lines. 80 percent of the time it will be tested. More patience is needed.