My general sentiment has been bullish for some time (see my previous posts as well as YT video).
Still, I have a feeling that the bulls are exhausted:
Many alts have stopped growing for some days
We see BTC has bearish divergence in terms of volume
11k is a critical resistance level, as it is the 1.618x of the neckline (I already mentioned it in my previous post)
In this context, I see BTC retesting lower levels in the coming days before eventually rallying to 12K by March.
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Indeed pulled back
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on the hourly, we have seen 12345. let's see if we have completed this correction.
in any case, to say it's going to "2k" is like saying it's going to "-2k" or "-1million".
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Should I start posting it's going to ZERO$ in order to get more views?
Seems the TV crowd loves sensational posts.
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seems to be a small rising wedge in the <1h time frame.
BTC is probably going to trade in range & accumulate
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may have fallen out of the rising wedge. Will this be the "C" leg of the correction? Or is it just normal range-trading?
10k is possibly the key: if we never touch it, it's just range-trading & accumulation. if we cross 10k, possibly 9.5 will be the bottom of this correction, and it'll take longer to retest 11k
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Appears that the range is indeed above 10k. Probably will break out this week
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Very tiny rising wedge visible only on very-short time frames (5min)
I think 10.5k will be the new, higher low
Decidedly bullish but breakout isn't guaranteed today
great call doc! been following for a while now but you lack the supporters you deserve! also havent seen an update on IOTA lately...would be great to see your thoughts on that
DrJLT
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@ZirSiri, thanks! after selling my iota I've been on the sideline. in all honesty it seems at this point everything follows bitcoin exactly (unless there's some big news).
LuckyLefty
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Nice. Thanks for your analysis.
mpastas3
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Thanks DrJLT for updates. Interesting that my promising alt coins also have eaten bigger part of btc gains during last few days
sample4u
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Thanks, correct chart is not baby chart we see 2k for bitcoin :D