My prediction of this seasons Bear Market.
Updated
Hello All,
Looking at the BTC chart on the daily timeframe, you can see that we developed a downward channel on the higher timeframes.
In my opinion, based on some fractal charting, it appears we will see a relief rally from the decline. Then head downward towards the mid-terms. (Dec)
This is where I believe we will bottom out in this bear market.
Let me know your thoughts...
****This is not trading advice****
Looking at the BTC chart on the daily timeframe, you can see that we developed a downward channel on the higher timeframes.
In my opinion, based on some fractal charting, it appears we will see a relief rally from the decline. Then head downward towards the mid-terms. (Dec)
This is where I believe we will bottom out in this bear market.
Let me know your thoughts...
****This is not trading advice****
Note
Well, So far it is going according to my analysis.We will likely continue this down trend to test local lows, and then rally to the impending Bull Trap.
Trade closed: target reached
So, it appears the Target was reached in Mid-December as expected, however the ride getting there was quite a different story...
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