Bitcoin Price Update

in bitcoin •  6 months ago


I still expect one more low in Bitcoin for this leg. There is a chance this zone sets off a large rally. Currently I have a projection to the $4900 region with the possibility of dipping into the mid $3000's. I have said in my public talks, tweets, and articles since the January top was confirmed that $4700 was an ideal fibonacci hit in this correction. And, here we are. Very close. Will this be the ultimate bottom. I can never say until a rally is confirmed. But I can say this is a key area and the end of the C wave diagonal off the February high, looks close.

BTCUSD - Bearish - Aug-28 0822 AM (2 hour).png

BTCUSD - Bearish - Aug-28 0822 AM (1 day).png

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the bears are getting tired?


The bears are extremely short now based on 'Finex and CME futures numbers. Once we start to take out resistance short covering will start in earnest.

Is there a viable count that has the low already in?


An unconventional one but requires over $8200 to make likely.

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