So what will likely happen today? We will have some sideways price action and run up to $11,500 or $11,600 where it will most likely meet resistance as sell orders from traders looking to get out begin entering the market. From here expect a good drop to around $11,000 and back up again, bouncing in a tight range like a plane with one engine out struggling to gain altitude. At a point late this evening or in the upcoming day or so expect some solid volatility as the other engine begins to struggle and it loses altitude. I cannot accurately predict the exact when, but only the result which will likely be what I described yesterday.
“We have yet to have a real correction according to the one and three day charts; they don’t lie. Volume is drying up and a notable faith testing shakeout is once again around the corner. Applying Fibonacci retracements to the 12 hour time frames on BTC starting at the $8800 low of the last dip (11/30/17) and moving to the current high of $11,900; we could see a pullback into $10,400 levels if bullish mentality holds. This is commensurate with the low closing price of $9600 (11/29); it being a 50 percent retracement of the run from $7900 (11/23) to $11,400 (11/29). Applying a 50% retracement to the 3 day chart starting at the $5400 low of 11/10 gets us to $8637.”
https://steemit.com/bitcoin/@pawsdog/12-4-2017-the-market-view-and-trading-outlook
Nice man... be interesting to see what happens... If it gets down to under $9000 I might have to find some spare cash from somewhere. I'd actually be super excited if it gets down this low.
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Same here.. that would be cool...
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thanks for the insight. $9000 would be a nice buy in relatively speaking
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Nice analysis!
@flick maybe you'll see that entry point you wanted after all.
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Yeah hoping so.. it will be interesting.. but then again its crypto so it could hit 40k by tomorrow morning..lol
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