This ruling happens at an interesting point on the chart ( 2/6 )
Obviously the notion is that the news will be negative, but.. i guess im channeling my inner optimist here..
My Other charts show a different scenario of the same timeline - but what if the US has positive news vs negative on 2/6?
I know.. better probability of hell freezing over, but thats why im calling this a moonshot lol
Then we could have been looking at something like this instead:
1. The drop from our key 10100 level was the "X" point on a
2. The 9650 level would get rejected as planned, but instead of bouncing - it was the start of the 8000 test
3. 8000 STILL holds, and is a great long entry.
4. We go somewhat sideways till 2/6 getting rejected at every resistance
5. The SEC Shocks the world and has GOOD news on 2/6 to signal the "D" leg of the and the last leg of the thats been forming
6. Theres been a possible forming since we dropped from 11000 - i dont have much faith in him tho, hes pretty ugly.. and Bitcoin seems to spit on lately lol.. it bolsters the prediction though
Key levels to watch in this scenario
9650 - If it gets rejected for good on this current run, and does not bounce off 9350, then we go down to 8000 - signifying to me that this current chart is correct
If it gets rejected, and BOUNCES off 9350 up to 10000 then THIS chart is correct
8150 - 8000 is STILL a good long for either scenario
9350 - After bouncing off 8000, if we take off immediately to the 9350 resistance, then were looking at THIS and if we piddle around and go sideways into 2/6 then were looking at this current chart setup.
IF NEWS IS:
Negative - target is long term of anywhere from 4000-6000 - see other chart ( http://bit.ly/2DWZEXG )
Positive - first targets are:
10800 ( fib )
11800 ( fib )
12600 ( fib + top of bear ) - possible end to bear market
News will be the driving factor here, either to an end of the bear market, or a MAJOR test for Bitcoin
Please take a look at both scenarios ( http://bit.ly/2DWZEXG ) and drop your opinions in the comments!