Bitcoin $7,000

COINBASE:BTCUSD   Bitcoin / Dollar
Hi Traders,

Although i don't actively trade BTC .USD i have continued to receive a large number of messages asking for my insight on the next move.
I have been calling for $7k - $8k for some time and i continue to hold my bias as price has broken below strong structure support levels.

I do see this long term price targeting the $50k level however for those looking for unicorn positions, i feel this move will be slow and steady over the coming years.

I will continue to update this setup and give my personal view to the market ( TradingView )

Trading Pair: BTC .USD
Time Frame: Daily
Predicted Direction: Short

Live BTC .USD updates will be available in the comments section below.
Kommentar: Price retesting descending trendline support, i do expect a bounce in the coming days, a pullback and a further push towards $7k - $8k
Kommentar: Sub $10k has now been achieved, i believe this will be a strong catalyst for many speculative traders to exit their positions.
Sell the hype, buy the fear effect.
Kommentar: Price rejecting descending trendline support, a pullback is now expected prior to the next short opportunity.
Kommentar: 4hr pullback is underway, i will be scouting a short opportunity in the coming days.
Kommentar: Price has now pulled back to the 38.20% i will be looking for divergence, deceleration and reversals
Kommentar: Looking for price to break $11,163 previous minor support, should this occur i feel a snowball effect could proceed.
Kommentar: Key Daily & 4hr Historic Structure Levels

Kommentar: Looking for a breakout of descending trendline support which for me is the last key support level before a sharp sell off.
Kommentar: 1hr TF chart setup.

Kommentar: Textbook break and retest of $12,700 & 38.20% fibonacci retracement
Dear Tom, you think it might bounce back to $12700 from the $7k levels, is that what you mean?
TomHall jpscryp
@jpscryp, I predicted the pullback to $12,700 before the collapse, if you click the play button it will play the chart.
@TomHall, that's a pretty cool feature. Nice. Well done, by the way. I appreciate your work.
+1 Antworten
TomHall m_wicked
@m_wicked, :-)
jpscryp TomHall
@TomHall, Many thanks and highly appreciated, I am sure a lot of people just waiting from you just to do a calculation on any pullback levels if any. Thank you for your great analyses.
+1 Antworten
TomHall jpscryp
@jpscryp, Thanks very much for the message, greatly appreciated.
what's your prediction for where to now?
@jimo79, Still looking towards the $7k / $8k mark.
How about that - a text book consolidation back to 1hr 50 EMA and then new impulse down.
@monkia, sorry didn't see your message, it fell off the cliff lol
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