As I wrote, target of 13540 is completed now. My indicator system still shows a selling pressure, waiting for the next target I gave yesterday (medium-term trendline). The secular bull is still intact, the correction is painful but was necessary for an organic growth. My expectation is a bounce, lowest target is 8.4k. That means a healhthy retracement and restore a more safe growth.
Can you please elaborate what do you mean by "target of 13540 is completed now"? and "My expectation is a bounce, lowest target is 8.4k"
SVTPremium
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@aliakber2k10, Hi, that refers to my analysis for premium members.
(Bitcoin is a confirmed sell on my short-term indicator and my other indicator shows end of bull surge cycle. This, latter indicator can identify bull surge, bull stagnating/elmination, bear surge, bear stagnation/elimination signal. This indicator is not volume based, and 1D timeframe, meaning that its reliability is for not more than the next 2-3 trading days.
Primary target of bitcoin was the upper edge of its trading box (16615). That target is completed, now the next target is MA 20 (15372) and then the bullish trendline at (15209). Latter two targets are moving with time and I will keep you posted.
We have no buy signal for bitcoin yet. I just hold the rest of my positions and wait for a purchase. My PPA is at 2000s, so I just let the position to mature. The secular bull at 4.8k is still intact, no reason to short BTC here.)
aliakber2k10
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@bonodi, We detailed and insightful. Thank You Sir :)