I have followed the market closely, this chart is for the purpose of perspective. Please let me know your thoughts on the chart layout. Currently I am not invested in this coin, It may correct and go for a High Low!
This is not investment advise!
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With a Flash crash of 15%, and a slight bounce back. BTC will retrace and once thats done, put your pinky finger to the moon!!!!
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I believe this is a goo double top, with strong resistance at $8300-8500, looking to retrace to $4500 or so. Then i believe it could go Either way up or down, I believe that those who seek control over every market want it to go down. They have spent years establishing the metrics of control, and now everyone is coming out with there own crypto coin i.e. FB, nike and many more. Then you have Bank and Government backed coins, that will be the life blood of the Financial market. bitcoin will continue as a unit of measure, and other block chains will seek to build side chains.
The TA in one day are all pointing at this correction, in the short term, maybe 1-2 weeks.
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Looks like a triple top Formation on 4hr, ready for a correction to 4-5k!
I strongly believe that We will get at least one more time to buy bitcoin below $5000 before the next bull season! Let's see how it goes!
Bluechipinvestments
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@CryptoEngineering, I think you are on to something!!! Lets see how this flash crash ends, I believe it will retrace to my target and then “Put your pinky finger to the moon”
@CryptoEngineering, looks like a Triple top on 4hr and Rsi overbought 70-80, and MACD about to show a gold cross. Buckle up the rollercoaster is going to drop!