BTC Come on Down, When the Price is Right 2

22 Jun 2018

I am now looking at the bearish channel as it intersects the long term bullish trend. As time goes by, I think the purple levels don't hold, and the light blue 3k area gets lost on the time horizon, so I am now pinpointing the yellow area. This still assumes the long term bullish channel holds true, and it has been awhile since btc has traded in this channel, but I think it is a good level of historical support. It could jump up from here, and I know many people want to get on the bull run again, but I still think we are a month out. For whatever reason, I have felt the first week of August might be about the right time to start another bull run. You can adjust the yellow box a bit while looking at prior resistance and floors in this area, but to me the value is where the channels intersect along with the Aug 1 time line. I want to watch and see how this develops over the next month, but targeting the low to mid 4k area now.