Will Bitcoin hit its target CME gap at 11.9k or 8.6k this week?

22 juil. 2019

Hello again my friends, from my previous post utilizing minimalist graphing approach, I declared that if BTC does not close its MA 50, and MA 100 gap we can be heading down into another bear market recline to test the 8,600 level. This seems to be occurring now as the head and shoulder patterns in the 4H Time frame are beginning to close. Now nothing is guaranteed as BTC is still above it's 10k value which shows that we still have a lot of people investing in this range. Since my original investment 2 weeks ago was at 11.3k I am still holding for the market to hopefully correct its self and reach the 11.9k CME gap prior to dwindling down to 8.6k level. As for my recommendation at this level for buyers who came in at the 10.5k stop losses have to be placed near 9.6k and lower as earlier stop losses will just end up getting you kicked out of the market as the price travels from stop loss to stop loss. Now with the history showing us that this can very well be a start of the bear market and alt season, I pass the question to you guys to hear your suggestions and ideas. What do you think will happen, does BTC still have a strong week ahead to recover pass its 11.2K bear support and go up to 11.9k to close its gap or do you guys think the price will fulfill its head and shoulder pattern back to 9.6k and then from there breach that level to go down to 8.6k?

Also please keep in mind that when trading you have to utilize your own thoughts and ideas prior to making market decisions, and is not recommended to fully trade of someone else's logic.

Thanks and I hope to hear your incite.
Victor

24 juil. 2019

Note

Allright guys, ,looking at this mid week, we are exactly at the support line for the bull run since May. From here if the orderbooks do not go in favor of large order block purchases we can easily see another panic to drop the price to 8.6k CME gap close and then possibly even lower before any recovery. At this point I think it's a good idea to buy since the bull support is and has been more powerful than the recent bear trend. This way you can average out your costs, and or take advantage of the next purchase block price push if it comes. However be advised of the situation and secure a stop loss if you are not in it for the long run and don't want to lose that possible 1K loss of BTC dropping to 8.6k. What do you guys think?

28 juil. 2019

Note

Allright guys, looking at this it looks like it went through bull support and slightly recovered back to the level, at this week if nothing changes drastically in the bull direction, we can have a very nice quick correction to 8.6k level and below. However, you can also look at it as 9.5k bull support still holding putting an end to the correction from the near 14k top and to lead the way back upwards to 11k and even 12k. Will watch closely and update you guys accordingly.

Remember, Onwards and Upwards,
Victor