H&S on if there is a break in the next 2 weeks? I have a small long position due to the RSI but hoping to get out on Monday
The below are the 3 scenarios i see playing out due to us looking to be at the end of the third drive up. (Green) Bit of an odd one due to the $1000 level being broken.. it could prove to be support and effectively has done twice already when tested. The longer it takes the more likely those who are expecting a pull back are going to give up and push price back...
I posted a bit of fun earlier but this is what is envisage occuring in the next 10 days or so. We could see a retracement following this to the 50% fib levels of the move as a whole. For the record, i closed my 10x leverage long at $779 last night opened in the idea referenced below, as i could see the sell walls advancing from $1000 and didnt want to risk the profit.
Dreaming.. but you never know with Crypto! A bit more of a serious video I knocked up: www.youtube.com
Vinny Lingham has been bang on on a number of occasions and is forecasting $3k for 2018 It doesnt seem rediculous given the historic trend and other Economic fundimentals. vinnylingham.com www.youtube.com
Driving upwards targets make sense to me on the basis of market memory. Targeting $930 with pullback to current level. If there is a 4th wave which is admittedly less likely, $1085 and new ATHs would be the next target.
Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (n2). On this basis this Chart illustrates the journey Bitcoin has been on and it is quite clear where the journey is headed (exponentially upwards) and is the reason why i am dollar cost averaging my purchases. It...
Re entered on the cross. Expecting a reach for 1k in Q1.
Post halvening obviously miners revenue takes a big hit. Looking at this chart, Bitcoin Price has not yet responded to bring the two back into equilibrium. Assuming Demand can sustain a price of around $970 my target is adjusted here on this economic basis alone. Supply will be limited to an appropriate price and fees will rise to cover costs. There will be...
Resistance zones are holding strong at $770-$773 with pullbacks into the 60's Profits taken already at $770 due to weakness Expecting a pull back to previous levels of support for leveraged re entry at $755 Just an idea. Do your own analysis :D!
Might be more bumpy at 778 resistance than origionally expected.
See chart - pleanty to back this up. Follow for more.
Retest of 755 expected in the coming week. 780 - 800 test and Lower trough in December of 750 to confirm bull momentum.