I don’t like an abrupt change of trend and character in BTC. I view it as a possible truncation of wave (c) that was expected to extend a little higher.
If BTC closes tomorrow below $52956 (BITSTAMP), that would be a bearish closure of the weekly candle.
The details were discussed in the yesterday’s daily analysis:
Previous Monthly Analysis:
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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.
- $BTC – Sep 6 – call on Top
Within minutes after the top, at 10 pm PST, when $BTC was $52.5k. The next 10 hours it dropped to $42.1k, or 20%.
- $BTC – Sep 18 – predicted a strong reversal down two days in advance.
$BTC dropped from $48.8 to $43.4, or 11%, in a matter of hours.
- $ETH – Sep 19 – forecasted a sizeable drop. In the next several days, $ETH fell 627 points or 19%.