BTC/USD - The 12k Line AGAIN!! 5/2/18

SO , 12k is now again in our sights as a possible target across the next day or so.

This line has been handing out massive rejections across the board which turned into key points in forming our sexy Inverted Head and Shoulders.

The line has copped 5 hits including a major break, Resistance in the area is really strong but considering we have hit the line FIVE times prior, maybe we can finally break this thing.

Due to the heavy resistance we have seen in this area, psychologically once people see a strong break past 12k things can get very juicy! but lets not go that far ahead yet, first lets look at why 12k may be a possibility in the near future.

Looking at recent price movements we can see some distinct patterns forming which have all lead to a small lil push upwards.

We may see another small flag form, but for now im thinking this is what our final range may look like :

$11,700 - 12,100

NO IDEA WHY I DID A 3 WAVE BUT I DONT HAVE TIME TO DRAW IT AGAIN SO HERE IS THE NEW ONE DOWN THERE

Again, as the RSI is pretty high at the moment i am expecting a decent pullback shortly before this larger pickup towards 12k.

My predictions for the B wave land between $11,200 - $11,300 . But in theory it could go even deeper!

Again, looking at the RSI always manages to keep us well informed on future price action, here we can see price bouncing off a good lil support, so this could possibly hold , and we may see our bounce look something like this.

Good Luck and we shall re asses price movements tonight :)

(my mistake drawing the first chart as an ABC.. will do another update tonight as it should be 5 waves that i used in the second image. im a very tired human rn zzzzzzzzzz)

Legal Disclaimer: I have no idea what I'm doing and I'm not telling you to follow me or make investments based on this information, this is just my thoughts and ideas and what ill be following. Happy Trading!!