As expected, BTC started to move down and the big question now is whether it makes a new low or not. Let’s have a look at the candles, waves and indicators to understand where it is going next.
After two days of rest, BTC made a bearish statement and broke below 200 MA. The move is not confirmed yet, but overall odds are bearish.
The majority of indicators are looking further down. The price is well below 8 EMA. The candles structure supports the idea of an ending diagonal.
If BTC makes 5 waves in the wave that started on September 7, it would make forecasting of targets and timing much easier. If it does not make a new low in the next couple of days, it would be a different story.
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This is the condensed Track Record of our most recent #crypto calls:
- $BTC – March 24 – call for imminent reversal, target $29000!
This happened when $BTC was $52k and approaching the top, when the experts were calling for $100k and $150k next.
- $ETH – May 16 – call for strong decline, target $1700!
This happened at the beginning of the decline when $ETH ws $3600 and everyone was saying it was a minor blip.
- $BTC, $ETH, $ADA, $LTC – July 21 – call on Bottom
This happened on the day the cryptos formed a strong reversal combo and started rallying.
- $BTC – July 24 – call on the 10 consecutive green days
This happened on the 4th day of the rally once we recognized a special pattern.
- $BTC – Aug 18 – call on Bottom
This happened within minutes after the bottom, at 9:45 pm PST, when $BTC was $44250. It has rallied 10+% after the call.