Drop to 7.5 +/-0.2, sideways, take alts profit, long BTC to 14k.
AKA ALTCOINSEASON BIATCH
The log chart has worked perfectly previous years. We have the 2013-2014 channels, the 2015-2016 channel, the 2017-2018Q1 bull (purple) & bear (red) channel and both have been recently broken. We're now floating in between both the bull and bear channels and potentially formed a new one, the orange one. Which is very interesting as the it's lower base runs...
Would be nice to retest log resistance, second chance for a buy in. Lot of people waiting for it though so we might fomo right through. If we breakout then I'll update.
I made a lot of money following a fractal from September, but lost a lot of money when it failed to pull of the last decisive big move. I think they hold true until they become to obvious and people post them too much. But hey, tomorrow we will know for sure if btc pumps, but if it dumps then the "catching bottom" game is still on. This fractal is backed up by...
I'm hoping that ETH/BTC continues its way down to 0.04 so that it can cleanly move upwards again without fakeouts. Buy hey, who knows? Buy support and stop loss is all I know works.
Will probably follow btc tomorrow. I'm expecting a dump to fully complete a BTC fractal during the downtrend and complete ETH/BTC log scale pattern down to year long support line.
If we dump tomorrow we are probably going to see $4.9k in a few days. I'd buy on support and stop loss beneath until bottom has been reached. If we break out then I'll wait for retest of the outside of the resistance line and buy in. Shorts got rekt today, Longs are probably going to get rekt tomorrow. BiTCunt fucks all.
If we bonce one more time on that god forsaken support line we get to keep dreaming of lambos boys
If you have faith buy at $8400. If you don't wait for bear trend break out 1 of April, international fools day.
Great looking risk/reward and FA Two paths to go by though, stop loss that baby
I will update as time goes.
This is just a zoom in of the fractal idea. Not the main idea. Nothing is valid until the next to the last candle is confirmed. The drop could happen from any of the red short boxed above. Target is around blue and purple lines. But be very afraid of B O G G A R D. There is time to catch close to bottom on the retest of the bounce too.
We bounce or we dunce.
This is based on 2017 September fractals. Confirmation if we get to 8400-8500 and then drop down to 8200. Look to rebuy there on support for one leg up to test resistance.
Watch if the 4 hours candle closes just the same we get a pump back to purple resistance line. then short down to point 8. around 7700 usd Get a good entry and watch btc recover at the edge of life. Compare with picture below.
If you don't believe wait for it to hit moon boy or break out or 14k then buy and watch it correct you out of a position then let it retake 17k with salty eyes. I haven't slept. Good luck !