Due to the still increasing demand in south-east-asia bitcoin confirmed another reversal at 4.2k. There will be some more space,
but there needs to be another correction before setting another upward ralley.
So according to the chart's behaviour I think the 4k support line will me a nice downward target for the month of september.
End of Sep / 1st Oct week we probably reach the the bottom followed by a strong bias reversal.
Volitility predictions seems realistic because of market key events:
- Bitcoin ETF 2nd round
- Segwit2x Fork
Both events (Winklevoss ETF, SegWIt) could mean a significant influence on the price.
Peak could be expected some days before christmas holidays, followed by a sell-off.
KEY SUPPORT: 4000 USD
MINOR TARGET: 5200 USD
MAJOR TARGET 6500 USD
but there needs to be another correction before setting another upward ralley.
So according to the chart's behaviour I think the 4k support line will me a nice downward target for the month of september.
End of Sep / 1st Oct week we probably reach the the bottom followed by a strong bias reversal.
Volitility predictions seems realistic because of market key events:
- Bitcoin ETF 2nd round
- Segwit2x Fork
Both events (Winklevoss ETF, SegWIt) could mean a significant influence on the price.
Peak could be expected some days before christmas holidays, followed by a sell-off.
KEY SUPPORT: 4000 USD
MINOR TARGET: 5200 USD
MAJOR TARGET 6500 USD