BTCUSD Bearish Butterfly + Bear Flag - 8250 Target in 48 Hours
First off lets start by taking a look at the nasty bear flag we had on Bitcoin during the drop from 14300, which extends down to 9200.
We recovered pretty well on this bounce, to 13000 to be exact, meaning the bear flag should take us from that 13000 bounce, down to 8250 area, which coincidentally happens to land directly on the 0.786 fib support, and a STRONG support from the runup to All time high
This bear flag also created the X point on the Butterfly , while the rebound created the A point.
The "D" point is what we should all be focused on here, which coincides with the end of the flag pole, and the 0.786 fib level
With the recent FUD regarding tether, it seems "they" are trying to get us there.. Look out BELOW!
We recovered pretty well on this bounce, to 13000 to be exact, meaning the bear flag should take us from that 13000 bounce, down to 8250 area, which coincidentally happens to land directly on the 0.786 fib support, and a STRONG support from the runup to All time high
This bear flag also created the X point on the Butterfly , while the rebound created the A point.
The "D" point is what we should all be focused on here, which coincides with the end of the flag pole, and the 0.786 fib level
With the recent FUD regarding tether, it seems "they" are trying to get us there.. Look out BELOW!
Trade closed: target reached:
Target of 8250 reached, dipped even lower but i had already covered - opened a long at high 7's
I think we get a temporary uptrend to just under 10k
I think we get a temporary uptrend to just under 10k
Trade closed: target reached:
Target reached at 8250 - i closed there, we went lower and i opened a decent long which im selling off at 9650 - heres my updated prediction for the upcoming week:
