Another radical call here!
When Bitcoin revealed the second "Running Flat", I began comparing the (2) bull runs and this is my analysis of their fractal nature: I believe that if Bitcoin's price exceeds the $8,000 price resistance, then it will move higher to a 5-wave peak, which will exceed $10,911 and most likely challenge the top of my "b" wave at $11,700. Obviously, the key here is to exceed $8,000!!! Prior to posting this, I did look through the "Ideas" section, and I noticed that everyone is calling for a bearish move here, and while I'm open to price going lower, I'm not convinced it will go much lower, maybe a 'shade' lower - maybe!
I have studied most alt-coins, and they have had a recent "pop" only to find a major resistance area (respectively to each), which has kept their price in this year long downtrend. In my view, if Bitcoin produces a new high over 8K, the alt's will have their day as well, they will move much higher as well. Also note, when Bitcoin hit it's ATH, many of the alts followed suit, but it took several weeks after Bitcoin's high for them to hit theirs! I imagine it will occur in similar fashion!
I posted a possible path for the RSI to complete this final move! I have an alternate path as well, but I posted this one since I believe this is what will happen.
My work is my own!!!
Feel free to leave a comment! Or like!
When Bitcoin revealed the second "Running Flat", I began comparing the (2) bull runs and this is my analysis of their fractal nature: I believe that if Bitcoin's price exceeds the $8,000 price resistance, then it will move higher to a 5-wave peak, which will exceed $10,911 and most likely challenge the top of my "b" wave at $11,700. Obviously, the key here is to exceed $8,000!!! Prior to posting this, I did look through the "Ideas" section, and I noticed that everyone is calling for a bearish move here, and while I'm open to price going lower, I'm not convinced it will go much lower, maybe a 'shade' lower - maybe!
I have studied most alt-coins, and they have had a recent "pop" only to find a major resistance area (respectively to each), which has kept their price in this year long downtrend. In my view, if Bitcoin produces a new high over 8K, the alt's will have their day as well, they will move much higher as well. Also note, when Bitcoin hit it's ATH, many of the alts followed suit, but it took several weeks after Bitcoin's high for them to hit theirs! I imagine it will occur in similar fashion!
I posted a possible path for the RSI to complete this final move! I have an alternate path as well, but I posted this one since I believe this is what will happen.
My work is my own!!!
Feel free to leave a comment! Or like!
Note
My $10,911 minimum target, after re-calculating the figures, should actually be minimum target at $10,847.50...not a big difference, but maintaining accuracy is important to me.Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.