Don't Panic
Based on my analysis:
In my previous post I was saying the price was about to go down again. That was the case, and really abruptly.
I would like you to remember all the horizontal lines I've drawn on the graph here. These are keypoints to the Bitcoin moves.
The price is doomed to fall down 5000, but people will fight against that. The price can go down until 3838 USD in the worst scenario, and even less, but I've stop checking below (too much fear, seeing below).
What I see : there will surely be a battle field between 4750 -> 5365. But immediately, the price should soon decelerate its rally down. but it will continue again, soon after. It'll be a Bears' pause.
In the S4 Mirror indicator, we clearly see the bulls lost the game. This can really be seen on a one-hour graph : greens floated 3 times in a row (=not cycling)), then things came back to normal, and immediately after that, a huge drop occurred. That's a move I've talked about in one of my previous ideas. On a 4-hour graph it's less perceptible. I wasn't much online to report this in time.
But there is a hope.
First hope (but small), the value in S4W/Normalizer is about to cross under 2 lines, these lines are kind of "brake strings" for the fall. it's soon to come. So the drop will pause a bit. Surely in the coming hours or day. That's due to the psychological 5K barrier. That barrier will be breached down anyhow. But it's not the end.
Second hope, which is a bit far, is the fact that we are still seeing a "calling candle" at 7788. So it's not the death of bitcoin. It's an "archer's effect" that is happening for me, but it's a really critical one, since there is a lot of panic already. And that panic is tending the "archer's string" to hard, will it break due to all that tension, let's hope not. If it doesn't break, we will see an explosive up move to 7788 and above, and that will make a real rally up for Bitcoin, since people will have faith in an uptrend.
There is still too much indecisions though. More analysis needs to be performed.
So for now, I see the price should battle between 4750 and 5365 a bit, with some still uncertainties. Who will win that battle on the field? It's too early to say.
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.
In my previous post I was saying the price was about to go down again. That was the case, and really abruptly.
I would like you to remember all the horizontal lines I've drawn on the graph here. These are keypoints to the Bitcoin moves.
The price is doomed to fall down 5000, but people will fight against that. The price can go down until 3838 USD in the worst scenario, and even less, but I've stop checking below (too much fear, seeing below).
What I see : there will surely be a battle field between 4750 -> 5365. But immediately, the price should soon decelerate its rally down. but it will continue again, soon after. It'll be a Bears' pause.
In the S4 Mirror indicator, we clearly see the bulls lost the game. This can really be seen on a one-hour graph : greens floated 3 times in a row (=not cycling)), then things came back to normal, and immediately after that, a huge drop occurred. That's a move I've talked about in one of my previous ideas. On a 4-hour graph it's less perceptible. I wasn't much online to report this in time.
But there is a hope.
First hope (but small), the value in S4W/Normalizer is about to cross under 2 lines, these lines are kind of "brake strings" for the fall. it's soon to come. So the drop will pause a bit. Surely in the coming hours or day. That's due to the psychological 5K barrier. That barrier will be breached down anyhow. But it's not the end.
Second hope, which is a bit far, is the fact that we are still seeing a "calling candle" at 7788. So it's not the death of bitcoin. It's an "archer's effect" that is happening for me, but it's a really critical one, since there is a lot of panic already. And that panic is tending the "archer's string" to hard, will it break due to all that tension, let's hope not. If it doesn't break, we will see an explosive up move to 7788 and above, and that will make a real rally up for Bitcoin, since people will have faith in an uptrend.
There is still too much indecisions though. More analysis needs to be performed.
So for now, I see the price should battle between 4750 and 5365 a bit, with some still uncertainties. Who will win that battle on the field? It's too early to say.
PS: Don't take my words for granted. Analyze, re-analyze, then trade at your own risks.
PS2: If you like this analyze, please click the LIKE button. FOLLOW me also to get my latest ideas. Thank you.
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