Good morning traders,
Past few weeks I have accurately predicted the following:
A) The breakout
B) The top
C) Soon to be the bottom
I have done so, all days in advance, on this last chart I predicted both this zone, and time frame, last Saturday, when very few traders were going short.
Today I'm bringing you another update on BTC.
Key Notes:
1) We've hit my target buy zone, if you manage to purchase anywhere in this zone, I feel you have an excellent buy.
2) I am currently all in long.
3) We hit our algo target on 618 (the optimal buy zone) and the lower buy boundary.
4) We are oversold on hourly all the way into the 6 hour.
5) We are seeing signs of accumulation at this 8700 level, and I believe this 'zone' will hold.
6) We are beginning to see bullish divergences, it's early, but this could be the first hourly close with divergence.
7) We may see one more final down in the coming hours to the 0.65 (the highest shakeout zone). Do not sell here -- and there is no guarantee we see it.
Targets / Timeframes:
Overall expected outcome until Monday: Range
Future Bullish movement: Outcome: Likely
1) The first goal of today will be to get back up towards 8900. Once completed, we need to establish a range market in this zone and higher going into the weekend.
2) The second major test which will confirm the next run is on its way will be breaking $9500. I do not expect us to get back towards these levels until next week.
3) Ultimate sell target is $11,700, as if we break $9500, I expect $10200 range to fall as well.
Continued Bearish movement: Outcome: Less likely
If the bears can continue this push downwards and my green buy zone breaks, we are in for much lower BTC as we will cancel out the golden cross. My stops are roughly 8550.
Remember, buy into weakness, and sell into strength. Manage your money accordingly, and as always, anything can happen, so set your stops accordingly.
As always, if you value my content, please support me by hitting the follow button, and upon 30 likes I will continue to update this analysis.