Viacoin MAN produces a bearish outcome
Building off of previously published Viacoin MAN ideas, Viacoin MAN got MEGA high and attempted some more extrapolations
Viacoin MAN realized that there was additional strength in this 'Broadening V' Idea.
Taking the most broad V, also more recent in the 'Broadening V' formation, he extended the line and it ran very well on the weekly and daily charts. He concluded that this gave reason to segment this line and its symmetrical pair to the pink color and extend it to see how it interacts with rest of the chart. He found that has potential to fit in the current expectations of price action. This works well with the supports that were made, we also are looking at Sept 19th for the close of Cboe XBT Sept futures. This date works well with the 'Broadening V' and closes the triangle for a short term bearish situation, by looking at this it gives a close look at $5000-$4800 buying opportunities. It may be good to enter low leverage until the dust is clear to avoid liquidation before the start of a new bull market and opportunity for a legitimate trend reversal.
Also a good note is that Viacoin MAN sees the pink trend line as a very strong illustration of the path of bitcoins price. Once BTC escaped it went completely parabolic in Q4 2017. Watch closely. Bitcoins winding down volatility from the "Broadening V" is going to add fuel to the fire to break the 8k range and start making local higher highs then a new ATH
Viacoin MAN loves to be a bulltard but he would like to help others more.
Don't get liquidated.
Viacoin MAN realized that there was additional strength in this 'Broadening V' Idea.
Taking the most broad V, also more recent in the 'Broadening V' formation, he extended the line and it ran very well on the weekly and daily charts. He concluded that this gave reason to segment this line and its symmetrical pair to the pink color and extend it to see how it interacts with rest of the chart. He found that has potential to fit in the current expectations of price action. This works well with the supports that were made, we also are looking at Sept 19th for the close of Cboe XBT Sept futures. This date works well with the 'Broadening V' and closes the triangle for a short term bearish situation, by looking at this it gives a close look at $5000-$4800 buying opportunities. It may be good to enter low leverage until the dust is clear to avoid liquidation before the start of a new bull market and opportunity for a legitimate trend reversal.
Also a good note is that Viacoin MAN sees the pink trend line as a very strong illustration of the path of bitcoins price. Once BTC escaped it went completely parabolic in Q4 2017. Watch closely. Bitcoins winding down volatility from the "Broadening V" is going to add fuel to the fire to break the 8k range and start making local higher highs then a new ATH
Viacoin MAN loves to be a bulltard but he would like to help others more.
Don't get liquidated.
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