HK-Capital-Management

Bitcoin – bitchcoin on the move… down!

BITFINEX:BTCUSD   Bitcoin / Dollar
Hello everyone,

as mentioned in august, I still expect a final sell off. I think BTC is completing a trinagle as shown in the chart above. We are in the last move down to sore point on the downside: 4.970$. In my view, this might be the key level to start to new highs.

Where we are standing?

Scenario 1 (blue line – 65% chance)

BTC will complete the triangle in the region around 4.970$ (wave 4, purple in square brackets), and then it will go up to the sore point of the whole game: 9.990$. Either the bulls will fight this level (wave I, beige) – then we are good to go to a new all-time high, or the bulls will fail (corrective wave b, purple in square brackets)…

Scenario 2 (blue line and red line - 30% chance)

…if the bulls will fail at 9.990$, BTC will go massively down to maybe 3.200$ and deeper (2.380$) to complete the hole corrective pattern in as wave 2…

Scenario 3 (no line, because I do not believe in this scenario - 5% chance)

BTC will go up directly to 9.990$... and then there will be a thight fight between the bulls and bears…

Please leave a comment or a message, if you have any questions!

Take care
tgo

HK-Capital-Management