Bitcoin to "correct" to 4300 USD or even to 3700 USD ->Then UP !
Bitcoin / US Dollar:
1) From July 16 to August 22, 2017: Rally from 1830 USD to 4480 USD, with a final correction at 3753 USD. Trend reversal (up->down) happened at about August 17, 2017.
2) From August 23 to September 15, 2017: New Rally to 4964 USD (so, JUST below 5000), with a final correction at 2972 USD. Trend reversal (up->down) happened at about September 1st, 2017.
3) From September 16 to October 15, 2017: New Rally to 5830 USD (so, JUST below 6000), with some signs of an actual correction (October 16, 2017).
I believe that the third rally is already finished and that we are entering a downtrend. So, I think that NOW is a good time to SELL Bitcoin.
What will give the actual correction?
I believe that the price will go down to 4300 USD, which is the previous resistance level and also a whole number in the graph (upper red line). It corresponds also to Fibonacci's level 38.2%.
It is possible that it will go even lower to 3700 USD, which was the older resistance level. It is also a whole number in the graph (lower red line).
SO:
NOW, WAIT FOR BITCOIN TO GO DOWN TO 4300 USD OR EVEN TO 3700 USD. I DO NOT THINK IT WILL GO LOWER.
THEN, WHEN THE TREND GOES UP AGAIN, BUY (AGAIN) BITCOIN. IF THE PATTERN IS RESPECTED, THEN BITCOIN WILL GO UP AND TOUCH A LITTLE BIT LOWER THAN 7000 USD OR A LITTLE BIT LOWER THAN 8000 USD. THEN, IT WILL GO DOWN TO A REGION BETWEEN THE LAST ACTUAL HIGHS (5000-6000 USD = RED ZONE IN FIBONACCI IN CHART).
One observation:
Trend reversals of BTC/USD seem mostly to happen in the middle of the month (except the downtrend that started on September 1st, 2017). I do not know if it is pure coincidence and I do not know neither the explanation of why this is happening. We should check in next months to verify if this a pattern. For the moment, I propose to keep an eye for trend reversals when we are approaching in the middle of a month!
Feel free to add here your comments and ideas!
Nick
1) From July 16 to August 22, 2017: Rally from 1830 USD to 4480 USD, with a final correction at 3753 USD. Trend reversal (up->down) happened at about August 17, 2017.
2) From August 23 to September 15, 2017: New Rally to 4964 USD (so, JUST below 5000), with a final correction at 2972 USD. Trend reversal (up->down) happened at about September 1st, 2017.
3) From September 16 to October 15, 2017: New Rally to 5830 USD (so, JUST below 6000), with some signs of an actual correction (October 16, 2017).
I believe that the third rally is already finished and that we are entering a downtrend. So, I think that NOW is a good time to SELL Bitcoin.
What will give the actual correction?
I believe that the price will go down to 4300 USD, which is the previous resistance level and also a whole number in the graph (upper red line). It corresponds also to Fibonacci's level 38.2%.
It is possible that it will go even lower to 3700 USD, which was the older resistance level. It is also a whole number in the graph (lower red line).
SO:
NOW, WAIT FOR BITCOIN TO GO DOWN TO 4300 USD OR EVEN TO 3700 USD. I DO NOT THINK IT WILL GO LOWER.
THEN, WHEN THE TREND GOES UP AGAIN, BUY (AGAIN) BITCOIN. IF THE PATTERN IS RESPECTED, THEN BITCOIN WILL GO UP AND TOUCH A LITTLE BIT LOWER THAN 7000 USD OR A LITTLE BIT LOWER THAN 8000 USD. THEN, IT WILL GO DOWN TO A REGION BETWEEN THE LAST ACTUAL HIGHS (5000-6000 USD = RED ZONE IN FIBONACCI IN CHART).
One observation:
Trend reversals of BTC/USD seem mostly to happen in the middle of the month (except the downtrend that started on September 1st, 2017). I do not know if it is pure coincidence and I do not know neither the explanation of why this is happening. We should check in next months to verify if this a pattern. For the moment, I propose to keep an eye for trend reversals when we are approaching in the middle of a month!
Feel free to add here your comments and ideas!
Nick
تم فتح الصفقة
As on november 11, 2017 bitcoin is going down. Check my recent BCH idea to save the money you invested in bitcoin :
"BTC and BCH "anti-symmetric" patterns. How to profit from this."
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.