BTCUSD "Bubble" Update - 12-3 thru 12/8
Update to the previous 4 hour chart now includes a bearish cypher pattern using the peak from 11/29 which indicates a drop from the current value 10824 to 8450 using average cypher ranges. This also happens to fall midway of the 0.236 of the Trend-Based Fib Extension. There is a possibility that it will fall below the 8450 range to the 8180 range which corresponds with the spike shelf which formed on the 25th. I've also identified a 17 bar (2 day 20h) cycle period forming from 24th that hits the 29th, the 2nd, the 5th and the 8th. Based on the bearish cypher pattern, the estimated time frame for this new low will be 12/3 8pm - 12/4 8am for the new updated entry position. The new estimated top for 12/8 from 4am-12pm EST is 10770.
What does this mean?
DISCLAIMER: I dont know what I am doing. Good luck!
What does this mean?
- If you want to play the swing, you are on deck to close out your positions today or short until 12/3-4 which charts indicate a -20% decline in value allowing for a 2k grab before closing the position. A retrace of 27% or $2300 on the buy back and swing up.
- Or, do nothing and see nothing more than a $50-100 position swing from now until the 8th.
DISCLAIMER: I dont know what I am doing. Good luck!
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