Looking at the long term pattern, each bounce is weaker than the last, all finding a floor at $6k before starting a progressively weaker run. We are nearly back at $6k, which has been tested a lot already. I see this breaking down soon. When?
Sept 27-28th: SolidX CBOE ETF is delayed. A decision does *not* have to be made by September 30th, and the most likely outcome will be a delay, until the absolute final date in Feb 2019. The market will react poorly to this news, this will be the catalyst taking us to new yearly lows around $5,400 - $5,500.
Larger orders will find liquidity they've been wanting all year at this price. Large orders will be filled, we consolidate in the high-5's and low-6's before we begin our new uptrend and start printing higher highs on the daily.
Outlook: Bearish until mid-October, then bullish the final 10 weeks of the year.
Sept 27-28th: SolidX CBOE ETF is delayed. A decision does *not* have to be made by September 30th, and the most likely outcome will be a delay, until the absolute final date in Feb 2019. The market will react poorly to this news, this will be the catalyst taking us to new yearly lows around $5,400 - $5,500.
Larger orders will find liquidity they've been wanting all year at this price. Large orders will be filled, we consolidate in the high-5's and low-6's before we begin our new uptrend and start printing higher highs on the daily.
Outlook: Bearish until mid-October, then bullish the final 10 weeks of the year.