BTC Correction to $8K
A few months ago I posted we were going to break out into a massive rally due to 2014/2015 fractal analysis and it has played out nicely. It's been a long wild run and for now it seems pretty clear that we are going to start pulling back in the coming days if we don't break $9500. BTC has 3 bearish divergences on the daily chart. BTC is at .618 of the fib retracement from 20k to 3.1k, but the fractal analysis of these moves cannot be ignored.
This is a topping pattern like we had from June 2018 to July 2018 shown in this image:
Now we are repeating another fractal from the recent run up where a pump/dump pattern one after the other has shown algo's are running the market still.
If we break $9500 (not a short wick, AKA goes to 9600 then dumps hard back below 9500) then this idea will be invalidated. But if we don't I expect us to head to 8K in the coming week or two followed by Even deeper correction in the coming month.
As always if you like what you see please follow my twitter and also join my telegram for ideas. I also run a group on discord that gives trade ideas and daily market updates. Please contact me if you are interested.
Twitter: twitter.com/surgetrades
Telegram: tg://resolve?domain=surgetrading
This is a topping pattern like we had from June 2018 to July 2018 shown in this image:
Now we are repeating another fractal from the recent run up where a pump/dump pattern one after the other has shown algo's are running the market still.
If we break $9500 (not a short wick, AKA goes to 9600 then dumps hard back below 9500) then this idea will be invalidated. But if we don't I expect us to head to 8K in the coming week or two followed by Even deeper correction in the coming month.
As always if you like what you see please follow my twitter and also join my telegram for ideas. I also run a group on discord that gives trade ideas and daily market updates. Please contact me if you are interested.
Twitter: twitter.com/surgetrades
Telegram: tg://resolve?domain=surgetrading
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