This is an Inverted chart of bitcoin, where we could possibly head down to 2k where there is very heavy support.
The reason I chose to invert the chart was to get a better view of bitcoin in terms of possible bear scenarios
This is a bit extream in terms of selling momentum but a very possible scenario due to high volatility in the crypto markets.
The target is based on the .5 extension of the 3rd wave and a matching extension of the descending triangle that formed over the past few months. Also we have support based on previous support made back in July of 2017
I have also published the possible bullish scenario for bitcoin but we will have to wait and see which on happens.
The reason I chose to invert the chart was to get a better view of bitcoin in terms of possible bear scenarios
This is a bit extream in terms of selling momentum but a very possible scenario due to high volatility in the crypto markets.
The target is based on the .5 extension of the 3rd wave and a matching extension of the descending triangle that formed over the past few months. Also we have support based on previous support made back in July of 2017
I have also published the possible bullish scenario for bitcoin but we will have to wait and see which on happens.