BTC GOING DOWN to 4000? Fireworks for Chinese New Year

15 de fev. de 2018

BTC is still in a downtrend . It has not touched Line 2 since January 13 .
It has rejected precisely from line 3 twice and it is at the line again now.
We expect the trend to continue until we see a new pattern.
A new pattern would be a breach of line 3 then line 2.
It would require some major event to push BTC above 10500 which would cause me to be bullish.
However a rejection from line 3 could target a price of 4000 within the next 2 weeks

16 de fev. de 2018

Nota

Head and Shoulders on one minute chart

16 de fev. de 2018

Nota

To negate this pattern we must stay above 10300

16 de fev. de 2018

Nota

ETHBTC certainly in a downtrend. Perhaps we will get one more visit to 0.1

17 de fev. de 2018

Nota

BTC has cleared line 3 and line 2. This photo shows line 1 at the upper parallel of the pitchfork.
We are at an important resistance now 10400. Next stop 11350.
We could get a large retracement there. It may be a place to take profit and reenter lower.

18 de fev. de 2018

Nota

I have adjusted the descending lines within the descending slope. High so far 11270.
Followed by a quick rejection into support on 75centile line of small ascending fork.
Three lines converge at 10am NY time when markets open after 3 days. Maybe it is then that we will see the fireworks.