Updated

Possible path for BTC in next year CHAPTER III

The Cycle wave IV has stopped at $1830, with the Fib retracement only 38.2% of Cycle wave III, and it's speed up by the news of Segwit2x, for now, I believe we are moving up for the Cycle wave V.

According to the rate between each drop and rise: 8.618==>5.618==>2.786(which should be 3.618 if following Fibonacci sequence)==>2.618, I think the rate between wave IV and V will be reduced to 1.618~2.

Then we can calculate the possible top for the Cycle wave V, and that, gentlemen, it's the end of this long wild journey. For what coming next I believe that would be the first time: The Cycle wave ABC, and I think it will last till next BTC half:2020.

So, Cherish The Day, and Good luck.

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5 wave completed, ABC incoming.

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With the BIP91 locked in, there formed a triangle adjustment in 1H chart, so I think we are still in wave iv, watch the way it break.

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BITCOIN HATE AUGUST:

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Interesting support area because there are 4 MA inside: MA 30,60,90 and 144 of 12 hour.

But on 1 day, MA 30 is suppressed by MA 60, even the MA 60 is holding the price for now, but the entities of the candle above MA 60 is too short, if there is not enough buyers to push up the price, the Stoch RSI will continue the cross down trend, in that way, the M-top will be formed, and $1900 will be the neck line.

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If the support area not hold, dark Aug will come again.

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Still more sideways to go, but watch the break direction.

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General view, just for information.

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Wave(3) almost completed.

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Detial

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$5000

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$4840 will be 1st resistance

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So, have you cherished the day?

bamboodian

Related publications

Possible path for BTC in next year CHAPTER II

by bamboodian

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