Jump to content
Sign in to follow this  
TraderDave

BTC Price Analysis

Recommended Posts

I just noticed something which confirms some earlier suspicions I'd been having. I had not dismissed the possibility Bitcoin had actually bottomed out a few weeks ago, and I suspected this recent drop could make the "double bottom". However, I just noticed it has been quietly travelling a bullish channel this entire time. I'll post a chart in a few hours. This is actually very exciting.

Edited by TraderDave

Share this post


Link to post
Share on other sites

We're now reaching a boiling point in a few hours, where I'm anticipating a jump to at least 7400 to 7800 between 1:00 AM - 5:00 AM Pacific time. I expect steam to begin blowing at around 3:00 AM. There's a scenario of similarly crumbling to the downside, but I don't see this as the likely outcome. Once people catch on to the event's unfolding, and the possible implications (bull season), there can be a chain reaction which unfolds where 1) Shorts begin rushing to close their position, 2) Short stop-losses/ liquidation points are reached, 3) Hysteria to buy bitcoin, which I could see pushing the price to 8600 territory or higher (in a matter of hours). Regardless, a very significant event will unfold in less than 2 days to mark the month's closing -- great downside or great upside. I am literally banking on the latter. :) 

 

 image.thumb.png.7971755f9bda524cea7d96176da281c4.png

Share this post


Link to post
Share on other sites
17 hours ago, TraderDave said:

We're now reaching a boiling point in a few hours, where I'm anticipating a jump to at least 7400 to 7800 between 1:00 AM - 5:00 AM Pacific time. I expect steam to begin blowing at around 3:00 AM. There's a scenario of similarly crumbling to the downside, but I don't see this as the likely outcome. Once people catch on to the event's unfolding, and the possible implications (bull season), there can be a chain reaction which unfolds where 1) Shorts begin rushing to close their position, 2) Short stop-losses/ liquidation points are reached, 3) Hysteria to buy bitcoin, which I could see pushing the price to 8600 territory or higher (in a matter of hours). Regardless, a very significant event will unfold in less than 2 days to mark the month's closing -- great downside or great upside. I am literally banking on the latter. :) 

 

 image.thumb.png.7971755f9bda524cea7d96176da281c4.png

Nice bull trap. It seems we are officially in a trend reversal. ~6534 is the next bear target. 

Share this post


Link to post
Share on other sites
Sign in to follow this  

×
×
  • Create New...