BTCUSD D1 max out 8200 & 30% correction(NEW)

24 เม.ย. 2020

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BTCUSD D1 max out 8200 & 30% correction(NEW)
IMPORTANT: this is a speculative setup, performance
is not guaranteed, so please use a tight stop loss.
and always do your own due dill. thank you.

Ok guys so today let's zoom out a bit and review
bitcoin daily chart , this is Bitstamp we got in here now.

So based on what I see from TA side, we got a somewhat
repeating fractal /cycle pattern from past, which
is a/b/c/dump, right now we got inverted pattern
and it goes like a/b/c/pump.

Also on the right price still contained within
bear channel on daily chart, so a secondary
low required before outlook can flip to
bullish.

What does that mean for the price of bitcoin?
Likely max out soon near 8 000 USD and then
expecting a pullback to print point c and
complete the bear sequence before bull run.

Bitcoin halving will likely result in a strong
pullback off the highs, the outflows from
major exchanges indicate that there will
be a secondary low printed later.

My overall take is this: bitcoin is flipping into
BULL mode, the cycle low is already set, however
it will take more time to setup for a stronger
pump, that will ultimately target 9500/10000 USD.

Also one other important factor, that will have impact
on BTC price is that V-shape recovery on US stock market
is already almost complete now, so if/when QQQ dumps
from the highs, BTC will also get dumped.

Here's my latest update on QQQ for the referece:
QQQ H4 15% upside V-shape recovery(NEW)

good luck traders!

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