Bitcoin Bulls might be done until 2019

업데이트됨

The Bulls of Bitcoin have continued to stall out with small deadcat bounces from my last Published Idea in May.

I anticipate more lower highs and lower lows that have squeezed us down into this 7 month decline from the ATH. Expect to see the price to ride the ATH down trend resistance/support lines into a very large symmetrical triangle that started at the top of the Feb-March recovery to 11.8k.

If the market volume continues to dry up because of bitcoin, we could see prices back under $4000 after Christmas. Will this be when Ethereum takes its turn at the top of the marketcap? It will be an interesting scenario to follow through the end of 2018 and into 2019, for sure.

노트

Maybe a slow dip into an H&S throughout August?

노트

Still completely on play, on time, on target

노트

Still in play - BTC continues to hold the bottom trendline it's held since August 2015 - Breakout around Christmas time is not looking likely - the top and bottom trendline connect in the first or second week of April 2019.

If BTC fails below the bottom trendline for more than a week, the new target could become 1.8k and then 1k.

노트

next lower low will be around $2875 by the third week of January -

노트

has been below its long term uptrend meme-line locally for close to 30d - On the daily chart, the 7d EMA is attempting to successfully cross back over the 50d MA for the first time since July 2018. Its failed every attempt since the end of July 2018 -- we might see some volume increase and a push towards $4.2-4.4k to put us back above the long trend meme-line.

If not, 2875 is still the short target