The of march is finally confirmed, it looks a bit different from my last drawing with was speculative still, now the lower line got touched 3 times, which means the structure is confirmed (the top line was already touched 3 times).
We finally had a green day after 6 red days in a row, I believe we're prime for dwowntrend continuation soon. or we could go up retest the resistance downtrend line since 20k.
So now we have a technical target. It fits what I and others have estimated thought various methods. It's gives 2500$ as a full target, this doesn't mean it would be reached. Somewhere around 4.5 or 4.6k 3.5-3.6 is also possible.
These are good supports long term:
We could also just stop at 6k right. But that would slow Bitcoin down. It needs to retrace to continue going up further...
Keep your eyes on the blue lines, especially the 2017 uptrend support that got tested quite a few times recently, and broke under on the feb dump, which weakened it. We closed above it that day so bulls survived. Now if we go below it we could be falling fast to the strong long term supports such as 3kish etc. i'l lre-post thel if we go that path.
We HAVE to go out of inside the 2 lines, the 1rst April at worse since that's when they join. The suspense is soon over, we either die out, or go to the moon.
Or bull trap like 2014 exact same... But we probably get bad news soon and start capitulating.
It's a good thing, we can start consolidating and go into recovery that way.
Don't forget about the 3 years on inside monthly candle:
Bonus: The green day was started by huge orders on Bitfinex Okex and Bitmex that pumped the price 800$ in an hour pretty much if I'm correct.
After that alot of enthusiastic buyers came in and climbed very fast to 9500. I hope for them they didn't get trapped...
Before that a whale was aggressively buying on Gdax but apparently whales from other exchanges came here to dump on him. The battle is raging!
+++ I am not a financial advisor (good luck finding one in crypto). Trade at your own risk +++
People make fun of science, but it is very rarely wrong.
And make a new larger bear thingy:
Someone posted this:
9500 is possible, a good short zone, buy low sell high. Wait for it (I doubt we go that high thought).
Gold: represents gold. Check.
Forex: Back by whole countries & their government. Check.
Major Stocks: Backed by big companies. Check.
OTC trash stock: backed by crappy companies and pump and dump groups. Check.
Cryptocurrencies such as BTC: Backed by a bunch of neckbeards and Vitalik's, early adopters that swear it's going to the moon and want to sell high, emotional speculators that want lambo's and to go to the moon. Vitalik said btw that ETH could fall to 0. Seems solid.
Congratulation to the people that morgaged their house to buy.
"But this 1 retard on reddit got insanely lucky and made money by morgaging this house"
Yeah, and some guy that fell from the top of a scyscrapper magically survived. Gogo jump!
One of the biggest idiot mankind has ever witnessed called Michael Carroll won the lottery, gogo buy a ticket every day! (He's back to picking up trash btw).
Disclaimer: Im buying a bit NEO if it falls to 1$, BTC if it gets to 100$, ETH at 10, etc. :)
Still wouldn't go in big at that price.
You might have lost 95% of your money but when Bitcoin bounces 500% off of 10$ you won't miss out! That 15k buy was really smart! 500% wow! All the way to 50 bucks!
I got a bottom target for this summer (nono not 10$ lol).
Won't last years this time. Hopefully.
No wonder they can do whatever the fuck they want to do.
BTC can easilly be 1 million / unit if McAfee and his buddies that control 80% HR decide so. Probably they'll be monkeys that buy at this price with no way out, and with a big smile on their faces.
Bear flag target just happens to conveniently be 4600-4700$
Guess if that thing is to go bearish it'll break in a few days to 2 weeks...