BTC dump initiated?
Small update: 7000 before the drop is possible now.
We are seeing an orange wave x pattern, which could have been completed a few hours ago. It now looks like the next drop could already have started.
I am getting a little excited, to be honest. My funds for buying cheap STEEM and other coins are ready and waiting... stay tuned.
This could turn out to be the moment that we have been waiting for months now.
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If you think this to be useful information:
Feel free to use and share my charts, but please mention me, @ew-and-patterns as the author. Otherwise it is considered plagiarism and I will flag you and advise my friends to do the same.
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DISCLAIMER: This post / analysis serves general information purposes only. I am not a financial adviser. The material in this post does not constitute any trading advice of any kind. This is just the way I see the charts and what my trading ideas are. I use chart pattern and Elliott Wave analysis for my trading ideas.
For full disclosure: The author of this post is holding positions in this market at the time of this post. Please conduct your own due diligence, if you plan to copy anyones investment decisions!
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Up down up down up down. Bitcoin seems to be stuck in a 6k-6.5k range.
that's what we call a consolidating range.
Thanks for sharing. Resteemed :-)
I think that not only are you excited! If I shot fast as I did last winter, it would be good.
Many users are waiting for the growth of coins! If Bitcoin grows, then all coins will grow. In support of all who are waiting for the growth of coins, I drew art:
This is not the only art I dedicated to this topic. I also painted art - "I feel like Hatiko" when I wait while the course of coins grows.
Let's hope for the best!
Have a good mood!
Nice art of yours! But please don't selfpromote on my blog again. Next time I have to downvote you.
strange, but I did not try to do advertising. I did not send the link. I just sent a picture that suits your theme!
To be honest, an unexpected answer! In any case, do not hold a grudge against me. I just wanted to raise your mood!
I was starting to worry, because so many were getting excited about being bottomed and going to moon. While I was selling what have been left from my assets.
Be cautious. The short term double bottom and the strong BTCUSD shorts downward move could indicate the opposite. AS I said, at least for the short term. Plus, investors took pretty well the news that SEC reported to december 29th their decision for vaneck-solidx's decision... Bears are loosing breath.
Notwithstanding that $6.250 must be broken first before any further move on the downside be suspected.
why you think it's not useful. it's more useful as i think. and now i resteem your post.
Very interesting analysis, I am hoping that you are wrong but if you are right you think this is the last dump before the Long term rallye if we keep the support around 5300$ ?
Have a great day !
exactly! 5k support must hold. If so, I expect 12k within the next 3 months.
I’m also waiting for the last dump coming...
Nonetheless, pay attention to the BTCUSD SHORTS which is indicative of a bull run, sometimes...they are rapidly selling their positions
BTC was up 6% from the recent low. Of course margin traders are covering their shorts^^.
It also could be a SKS bottom formation that just broke out of the right shoulder and is re-testing the previous resistance line. The Bears had many chances to break thru the last support line but it didn't hapoen so I'm looking more for a bullish move right now. Especially when you see the correlation with USD-Index which is about to go down as well. And on top we have the overall bullish 4 quarter ahead of us so don't worry guys we wont see 5000 BTC in December.
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Very interesting, just as others are thinking the market is starting to gain some momentum. Perhaps that’s how the last drop catches the unaware..