New 4-hour channel forming that will run up and down until we reach lower support around 8780
Expect BTC to follow the trend line up to 10k wiht a few pops in between
BTC will continue to play the range. Expecting a retest at or below 9200 before a push above 9600.
A continuation of patters forecasting 2018 of 80 day 200% price increase with a 30 day 30% decline, 48 day 154% increase with a 12 day 24% decline, followed by a 53 day 133% increase with a 3 day 22% decline - the stage is set for BTC to reach an astronomical threshold of 4200+% which puts it above $320,000 for end of year.
Continuing with the patterns in place of 80 day 200% price increase with a 30 day 30% decline, 48 day 154% increase with a 12 day 24% decline, followed by a 53 day 133% increase with a 3 day 22% decline - the stage is set for BTC to reach the next 150% threshold which puts it above $27,000 for the new year.
Update to the previous 4 hour chart now includes a bearish cypher pattern using the peak from 11/29 which indicates a drop from the current value 10824 to 8450 using average cypher ranges. This also happens to fall midway of the 0.236 of the Trend-Based Fib Extension. There is a possibility that it will fall below the 8450 range to the 8180 range which corresponds...
During the month of November we saw an increase of media attention which sparked enthusiasm, increased the number of Coinbase Accounts and the crowd quickly went all in reaching the point delusion and "New Paradigm" which was short felt and has since begun to return to "normal". As the continued fear of retreat settles in, the public buys before the spike will...
BCHUSD has established the Bullish Cypher pattern, a reversal strategy and we want to make sure we capture as much as possible from the new trend. The Cypher pattern has a conservative take profit target. We want to take profits once we reach the point A of the pattern. Keep an eye on the stop loss threshold and watch the book orders if you plan to hold past that...
After a slow decline from 1750 and with nearly 8 hour periods between waves, BCHUSD will fall to 1580 to then climb 10% testing the last top of 1750 once again. Good luck!
BCHUSD fits the Bearish Pennant configuration with an expected decline of 6-7%. It will later recover 3-4% to rebalance itself to a previous value before the weekends surge.