Quinton84

Quinton84

Using the FIB extensions, I went ahead and labeled the expected prices/support zones we should see over the next few days.

Quinton84

You will notice in my last publishing that i pointed out this trend line that has been acting as stiff resistance and it proved itself again. Not only was it rejected as predicted, but even tested it 2 more times before someone decided to sell some coin dropping the price. As expected, there was a slight reaction rally in price, but don't expect BTC to go above...

Quinton84

This macro trend line dates back to the middle of February and has acted has strong resistance 6 to 7 times. With that said, why not one more time? Based on current trading volume, I would expect this line to be tested again for the final time in 7-9 hours. I'm going to look at opening a low leverage trade with an entry point of 7300-7330 and hold that position...

Quinton84

BTC could potentially rally up to the 7800 resistance level before taking a major dive, but with that said, a major sell off is eminent. I won't bother with typing out all the price ranges as it steps down, but I did tag those prices on the chart. Most people know that FIB extensions are 80% accurate if the predicted trend direction is correct. If you notice, I...

Quinton84

If the markets continue to open strong for the next day or two, we should see BTC price rally into the 7600-7800 territory. This will act as our next resistance point. Without a retest at 7200 is not confirmed to be new support, but let's assume it potentially is. While the price has a high probability of increasing a little more, a major selloff is eminent. ...

Quinton84

We saw a textbook indicator for a price drop due to resistance price rejection but the price immediately started to consolidate/distribute (hard to tell which of the two at the moment). that would now signal a bump up in price but you can see how far above the vwap we are trading. It's no longer a clear indicator and for anyone using my publishings as anything...

Quinton84

we can see a micro double top forming indicating a capitulation from resistance. May be a good short opportunity.

Quinton84

Now that BTC price is coming up on the key resistance level of 7200, this may take a dive down if the order books don't consolidate here. The NYSE is due to open in 15 minutes and sp500 futures are trading below friday's closing price. With that said, i'm expecting the price to drop.

Quinton84

When the traditional markets open in roughly 10 hours. I anticipate we will see a price correction due to the inability to due futures trading on weekends, and we've already seen the correlation between SPX and BTC pricing. It'll bump up to the 7200 area in an attempt to build support on top of old resistance, or it'll drop down to the next level of support in...

Quinton84

you can see we have price consolidation on the hourly candles which typically indicate a price bump. It may be an opportunity to take have advantage of a quick trade. I would long this and look to take profits in the 6900-7000 area. Your take profit price should be determined by the momentum and volume as the price makes a run.

Quinton84

unless the traditional markets make a comeback this week, it looks like we are still in line to see a retracement back to the 6400-6500 range. I personally believe that we will see much lower prices in the long term before assets are re allocated back into the crypto world. But until then, here's the two outcomes i predict. Step 1: we see a small dip back to 6500...

Quinton84

based on the daily doji candles, trend pattern, and sundays usually being a selling day...this should be coming down today to further support my last publishing.

Quinton84

In order to provide confluence for this micro up trend, we should see the current price drop to 6450-6500. Once this continuation pattern is confirmed and completed, then the next step would be an immediate trend reversal or a bounce. The only way this can become a bullish scenario is if the price is able to get above 7200, consolidate, then continue upward to...

Quinton84

This pattern looks nearly identical to last week. I'm a believer of patterns and this is nearly identical. If it mirrors last week, we can expect a retest of almost 7k followed by a rejection back to 6500, 6200, or lower. If this closes above 7k, then we could see higher prices. But given the current markets and lack of buyers, I don't expect the latter of the...

Quinton84

just as we saw last week, this may be another prelude to a dump in the next 2-4 days. We might see the price go up another $200 from here, but if it gets rejected from the crucial resistance level at $6800, then another selloff will be triggered.

Quinton84

if the markets slide down as predicted, look for support at 5900 with a slight reaction rally (bounce) then further potential downside into the 5k area.

Quinton84

look for more pricie dropping

Quinton84

we just saw this last week, don't need to say much. watch for another massive dump in the next 24-48 hrs