BITCOIN is about to DUMP next week! $5,000-$4,800
Updated
As you can see in the chart above, similar fractals have been forming since February 2018, which is the first bounced after we touched the $6,000 level. These fractals are mostly associated with trading bots and algorithm or what they call Algorithmic trading.
Also note that every time MACD signal line crosses over (bearish cross-over) on the daily chart, the big dump follows.
Here's the breakdown:
-The 1st rally started on February 5, 2018 until March 5, 2018, which is about one month and then followed by a massive DUMP.
-The 2nd rally started on April 10, 2018 until May 6, 2018, which is almost one month and then followed by a massive DUMP.
-The 3rd rally started somewhere June 14, 2018 and if we follow the length of the other fractals and the expected crossover of the MACD, my estimate would be next week August 10, 2018.
Coincidentally, August 10 is the date that SEC is expected to announce whether the ETF application filed by CBOE (Chicago Board Options Exchange) will be approved/rejected or get extended.
Also note that every time MACD signal line crosses over (bearish cross-over) on the daily chart, the big dump follows.
Here's the breakdown:
-The 1st rally started on February 5, 2018 until March 5, 2018, which is about one month and then followed by a massive DUMP.
-The 2nd rally started on April 10, 2018 until May 6, 2018, which is almost one month and then followed by a massive DUMP.
-The 3rd rally started somewhere June 14, 2018 and if we follow the length of the other fractals and the expected crossover of the MACD, my estimate would be next week August 10, 2018.
Coincidentally, August 10 is the date that SEC is expected to announce whether the ETF application filed by CBOE (Chicago Board Options Exchange) will be approved/rejected or get extended.
Note
So i guess the dump has already started.
If we measure the 1st and 2nd fractals, the average drop in percentage is 43%.
Now, the interesting part. If we confirm that we are forming the 3rd fractal, then we might fall about 43% from the previous high which will then take us to $5,000-$4,800 level.
Note that the decision of SEC next week will definitely contribute to the succeeding price action.
If the ETF gets approved, then we might not fall to $5,000 level and the price might start to climb up to trigger the next bull run.
This is not financial advice.
(Don't forget to hit like if you agree)
Note
So after a month, I guess my idea is playing out.
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