Hello Everyone!
A realistic overview of
BTCUSD
:
I see this as a major market pivot point for a market bottom on
BTCUSD
. Some are calling for further decline into the low 2k's and possibly high 1k's, I just don't see that happening. While the trend is your friend, mass over-expansion on some of the highest macro time-frames (Weekly) signals to me that we are very close to a trend reversal.
Comparing 2015's crash pattern with 2018, it's nearly identical. This includes a bounce from a previous high (a wick through the 200 moving average).
I see an impulse reaction at 3k with an initial retest of the 50 containment zone, then a run to the 50MA. Ultimately, we'll drop from here and retest the previous low -- but will not make a new low. This will give sufficient time for the Weekly Containment Zone to compress for another bull run beginning mid to late 2019.
A realistic overview of
BTCUSD
: I see this as a major market pivot point for a market bottom on
BTCUSD
. Some are calling for further decline into the low 2k's and possibly high 1k's, I just don't see that happening. While the trend is your friend, mass over-expansion on some of the highest macro time-frames (Weekly) signals to me that we are very close to a trend reversal. Comparing 2015's crash pattern with 2018, it's nearly identical. This includes a bounce from a previous high (a wick through the 200 moving average).
I see an impulse reaction at 3k with an initial retest of the 50 containment zone, then a run to the 50MA. Ultimately, we'll drop from here and retest the previous low -- but will not make a new low. This will give sufficient time for the Weekly Containment Zone to compress for another bull run beginning mid to late 2019.