BTC needs to go down to approx. $8.5k before resuming uptrend

2019年7月18日

Short for short term, long for long term.

Inverse head and shoulder target (8.87k)
CME gap (around 8.6k)
0.5 retracement from last top (8.34k)
weekly 200 MA (around 8.2k)
POC of VPVR since mid-May (7.94k)
O.618 fib retracement from ATH (7.86k)

All this points to a price trending to about 8.5k before being able to go up again.
This would actually be healthy and would be compatible with a redesigned parabola drawn in red.

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All comments welcome :)

2019年7月18日

註釋

Recent bounce does not invalidate analysis : still in descending channel

2019年7月20日

交易進行

Broke out of descending channel.
However some of the reasons for the initial target are not yet invalidated.

2019年7月20日

手動結束交易

iH&S pattern has invalidated idea

2019年7月20日

註釋