We may have reached my target 1 already -$11,000-11,200 next
We may have reached my target 1 already. Look for break out of the orange channel as confirmation of uptrend to $11,000-11,200 range.
Nota
Bitcoin's price was following the path I laid out very nicely, until that sudden, unpredictable massive dump/crash. Unfortunately, these random events cannot be predicted with TA. Likely caused by a Binance Hack and/or massive Whale(s) dumping/coordinated event.
trustnodes.com/2018/03/07/binance-temporarily-disables-withdrawals-reports-unauthorized-selling
bloomberg.com/news/articles/2018-03-07/bitcoin-s-tokyo-whale-sold-400-million-and-he-s-not-done-yet
Nota
At this point (4hr chart) Bitcoin has formed a Double Top and Double Bottom.The price could break in either direction, so we have to wait and watch.
However, I'm leaning towards it breaking upward.
It has reached a crucial support at $9600. My next support level is $8900. BTC
Nota
A Double Bottom can also be seen (on $9600 support line) to have formed after today's flash crash (15min scale).Again, price could go either direction at this formation, but I learn towards upward movement. #Bitcoin
BTCNota
Bitcoin's price swung upward (which is the direction I was learning towards in my last call). However, this current structure resembles a Bearish Flag, which could signal more downward movement. Let's observe if it will break below the yellow-line channel or not.
(Update, started breaking below while I was typing this)
Nota
Broke below just after I posted. My support range is between $9200 and $8800.Nota
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