Bitcoin is in an obvious at the moment and frankly I don't see it moving out of it before the end of the month at least. You can see levels clearer in my previous version of this same idea but just wanted to zoom out so you could see what I do.
*I am not Roger , btw , nor am I trying to spread fud, it's just obvious to me looking at it at a glance. Not going with a million indicators, less is more.
Each box features a 35% drop followed by recovery. The drop from the top of box 1 to box 2, and from the top of box 2 to bottom of box 3, is 55%.
I estimate the bottom the next box, (number 4) within the channel to be between 4300 and 4100, where previous s/r were. Expecting this by end of month, but could be sooner, as these drops have been closer together as time goes on.
Some news if you need to justify the TA but I've seen this for a week now: "One of the biggest darknet kingpins has been arrested by a large team of police officers. Sergey Medvedev, the co-founder of Infraud, also had over 100,000 bitcoins seized in the process. In the past US-based law enforcement agencies held auctions to sell off seized cryptocurrency balances. It is possible, the Thailand law enforcement agents will have to take a similar course of action." So, if someone buys and subsequently dumps these Bitcoin to buy back lower... I'd be willng to wager that institutional investors have both the capital and motivation to do such a maneuver.
Think of the market as a honey badger, because it sure doesn't care about your portfolio or feelings for Bitcoin . Caveat emptor, be safe guys!
Do give me a like if this makes sense, thanks!