Bitcoin retracing before mooning?

2018年3月1日

So, overall Bitcoin is showing a few bullish signs.

I believe that the drop from 20k to 5,8k formed corrective ABC Waves.
If that's the case, we can expect impulsive waves higher.

Furthermore, BTC seems to be forming an inverted H & S pattern.
If Bitcoin manages to breakout the neckline (around 11,3k), 17k is a likely scenario.
Hard to say when exactly, but for sure not immediately.

If the breakout fails yet again, I expect a healthy retrace to the 0.618 FIB level, which would be around 8,2k.

What concerns me for the most part is the low volume.
We need fresh money coming in, if we want a proper breakout towards the upside.

Feedback is highly appreciated

Regards

2018年3月2日

註釋

Potential H & S forming on the 5 Min. Chart.
RSI is showing a bearish divergence as well.
If H & S plays out, a retrace to the 0.5 fib level (10,7k) can be expected.

2018年3月29日

註釋

2018年3月31日

註釋

You should never stick with one prediction.
You need to adjust to the market behavior.
Check my new idea:

2018年4月4日

註釋