BITCOINS NEXT MOVES (BEST SHORT ENTRY AND ABSOLUTE BOTTOM)
Updated
Seems like the market movers have stepped away from pumping btc and now the price is being determined .
The charts lays out what to look for next.
We currently have a downtrend line determined in orange and we broke the 1860 bottom uptrend line clean last night which was a very significant trend line established right before segwit activation.
Personally I feel this will not play out like a flash crash such as when Ethereum got sold off at 408.
I feel like it will play out in 3 total waves with the last one piercing 2900 with a giant wick all the scared noobs will wish they had gotten into.
The third wave as well will fall bounce and fall down in a clear channel until falling through the 3200 level and into minus 3k. The third wave if it does play out in this correction will be a scalpers dream.
At the bottom of this correction I feel like Neo, Ethereum and OMG will be some of the best holds for the month of sept.
What most important at the moment is to watch the price when it enters the triangle with the number 5 in it.
Good entry is a rejection of the orange line for a short position.
The charts lays out what to look for next.
We currently have a downtrend line determined in orange and we broke the 1860 bottom uptrend line clean last night which was a very significant trend line established right before segwit activation.
Personally I feel this will not play out like a flash crash such as when Ethereum got sold off at 408.
I feel like it will play out in 3 total waves with the last one piercing 2900 with a giant wick all the scared noobs will wish they had gotten into.
The third wave as well will fall bounce and fall down in a clear channel until falling through the 3200 level and into minus 3k. The third wave if it does play out in this correction will be a scalpers dream.
At the bottom of this correction I feel like Neo, Ethereum and OMG will be some of the best holds for the month of sept.
What most important at the moment is to watch the price when it enters the triangle with the number 5 in it.
Good entry is a rejection of the orange line for a short position.
Comment
The distribution of btc is almost complete. We shall be heading downibb.co/h3b1da
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