looking at this i think we go up the the orange line. because we always did. currently it sits at 9k
people put in sell orders on the current price, even if it will be lower once we get there it still might go up crossing the line to 9k.
8k is critcal since it represents several major resitance lines:
- most importantly the 200 day average that we broke on the way down which is more often than not a sign of the start of a major sell off
- and the 62% fibonacci retracement of the whole bull run since january 2017
- and it was the last base that we tested for a while
- 8k is also the fibonacci extension of the recovery move from 6k
if we cross 8k it will be strong support. if not we collect the 78% fibonacci retracement around 4.7k.
8k is also the upper resistance of the ichimoku cloud on the hourly chart for now.
most of these lines are moving so this is only for tomorrow.
if we bounce off 9k, retrace to 8k and go trough 9k convincingly, we are most likely heading to 12k and above. if anything of this doesn't hold we will fulfill everyones target and go to 5k.
we still need despair. but only to fulfill the bubble cycle. as stated earlier I don't think we are going to the bottom as of now. first the wales have to exit alts and therefore we see blossoming flowers in spring.
ETH is the exception because whales already dumped in strong order books
BTC is the exception because its just the trigger that is used to move everything else in the favorable direction
right now we are sitting at the resistance line at 7.3k that was the lower edge of the falling wedge that led us down from 20k to here. it was broken but not on the daily close. as long as that holds we can overlook it. if not, we are accelerating the downwards pressure
the question actually is what timezone we should use to decide the daily close. i would go for yours as asia is in charge of saving us
all together its stupid and risky to buy now. from a risk reward point we should not do it. but then we already made some money and can use this as buffer
I like it when everything falls in place.
stay safe
people put in sell orders on the current price, even if it will be lower once we get there it still might go up crossing the line to 9k.
8k is critcal since it represents several major resitance lines:
- most importantly the 200 day average that we broke on the way down which is more often than not a sign of the start of a major sell off
- and the 62% fibonacci retracement of the whole bull run since january 2017
- and it was the last base that we tested for a while
- 8k is also the fibonacci extension of the recovery move from 6k
if we cross 8k it will be strong support. if not we collect the 78% fibonacci retracement around 4.7k.
8k is also the upper resistance of the ichimoku cloud on the hourly chart for now.
most of these lines are moving so this is only for tomorrow.
if we bounce off 9k, retrace to 8k and go trough 9k convincingly, we are most likely heading to 12k and above. if anything of this doesn't hold we will fulfill everyones target and go to 5k.
we still need despair. but only to fulfill the bubble cycle. as stated earlier I don't think we are going to the bottom as of now. first the wales have to exit alts and therefore we see blossoming flowers in spring.
ETH is the exception because whales already dumped in strong order books
BTC is the exception because its just the trigger that is used to move everything else in the favorable direction
right now we are sitting at the resistance line at 7.3k that was the lower edge of the falling wedge that led us down from 20k to here. it was broken but not on the daily close. as long as that holds we can overlook it. if not, we are accelerating the downwards pressure
the question actually is what timezone we should use to decide the daily close. i would go for yours as asia is in charge of saving us
all together its stupid and risky to buy now. from a risk reward point we should not do it. but then we already made some money and can use this as buffer
I like it when everything falls in place.
stay safe