Multiple Fib levels (and former highs/lows) point to short-term high at 56~56.4K. Play safe and short at 56~56.1~ish.
Last high at 55.7K~ish was about $300 too high to keep BTC upward trend, thus creating current dip.
After local high, BTC is predicted to fall under 54K
When price breaks under 55.1K and breaks trend line, discard this idea.
BTC has shown an ATH with a dominance under 60 - unusual..
BTC currently moving in blue channels and through upwards channels (red lines)
Still signs of big dip, but ATH usually leads to a big jump
Disclaimer: last ATH DID NOT lead to a big jump, and this ATH showed dominance under 60
BTC is regaining dominance - which means the last flash crash by BTC brought down all altcoins with it
and money is now flowing into, not out of BTC
if BTC dominance continues its upward momentum, we're in for a BIG shoot upwards
No more under predicted high under 62K!
Buy buy buy!
BTC did not show a sharp ascent into the 60K+ channel at UTC 0400, which means a lower potential high in the 60.2~60.6K area.
Still looking forward to breaking the 60K wall, but with BTC dominance at 58.4~ish, there just isn't enough people buying BTC to break an all-time high - at least for now.
BTC pump-and-fall is pumping not only small but major altcoins -...
Although Fib Arcs is an unreliable method, BTC is bouncing off 0.618 Fib Arc (set price range so that 0.618 arc forms resistance arc)
However, in this scenario, the highest 1.618 price is just under 62K and continues to decrease over time (hence forming arcs, as the name implies)
A huge 2.5K shot upward would still only go up to about 61.5K, and would probably...
