Mid term market key to long term targets, BTC battle is on

2018년 4월 3일

This is how I have it:

We are just completing wave 3 up from reversal bounce at $6400, this whole move already feels like its running out of steam. The bounces get weaker each time we drop which is normal in a crash. Unless we get a strong V bounce (This could be it but time will tell) and continue up, we will slowly level out into a ressession of slow decline until mid to late this year.

The new normal is now this $8000 to $6000 range and I feel people will stop buying between $7500 and $8000.

If we are able to break (blue line) then it will only be the main downtrend line (now at around $8400 and red in my other charts) to get through before we are fully out of the trend.

For now I think the (Blue Line) downtrend from the 5th of May will act as strong resistance and start the next wave down, my target is between $5500 and $5200 with a stop just above the line. Might add a breakout long trade (taget $8400) once through the line and after coming back to test it for confimation.

If we do get to the 5k range then we will need a strong and continues bounce to reverse the trend, otherwise it will be a boring and loosing market until later this year. Will be good to catch up on some sleep....

Markets dont repeat but they often rhyme

Safe trades