"Science has not yet mastered prophecy. We predict too much for the next year and yet far too little for the next 10."

Those are the words of Mr "One small step for man" himself: Neil Armstrong. He was right, especially when considering how traders normally look at the markets!

Yesterday I posted a long-term look at BTC, so (with respect to Neil Armstrong - a man whom I greatly admire) my conscience is clear when I look shorter-term today. Consider this the sister post to yesterday's one.

A Bit Brain original - For photo details please scroll to the end of the post.

BTC medium-term analysis 📉 latest update

Last Night's blood moon seems appropriate for the current crypto market: we'd like it to Moon because we're still bleeding from the bear attack!

In this post I want to take a quick look at the medium-term market. I like to hide little "easter eggs" in my posts for those of you who are feeling particularly sharp to spot before I point them out; this post is no exception. Its title is very similarly worded to yesterday's long-term BTC post. Both have chart emojis in them. Yesterday's emoji was bullish, today's is not...

To cut a long story about the medium-term short: 😆

(Yes I laugh at my own cheesy jokes - deal with it.)

I believe that we have reached the end of this little climb. I think that this wave is almost spent and that we will drop back down to consolidate again before starting a far more powerful series of climbs - climbs which together will form the next major bull market. I believe that this prediction still holds true: https://steemit.com/cryptocurrency/@bitbrain/the-bear-is-over-at-least-for-now .

Apart form the obvious FA reasons (we do not have consistent gains daily gains yet, the market still has a fair share of uncertainty, BTC ETFs remain in limbo, a few aged bears continue to linger: trying a last ditch effort to lure the undecided into their lairs) - there are one or two indications on the chart which indicate that the immediate upwards surge may be exhausted. Let's take a look:

Made by Bit Brain with TradingView

The blue line can be considered to be the top of a triangle: a resistance level which BTC has yet to break through. I do realise that BTC has briefly broken through that line, but (for now at least) I'm considering that to be within the margin of error and I do not consider it to be a breakout. I think that reaching this line signals a drop in price for BTC, probably after a small "double-top" pattern, such as all the recent BTC bullish periods have ended with.

A further indication of the impending downwards movement is the current price movement of BTC. It is repeating, more or less, what it did at the end of the climbs in December, late February and late April. I have highlighted the similar price movement (indicative of a spent climb) on the chart below.

I have then taken things a step further by drawing in a rough trajectory of what I expect the BTC price to do for the next month or two.

Made by Bit Brain with TradingView ; modified by Bit Brain

Bit Brain's certainty factor for this prediction: 75%

Personally I can't wait to get this cycle finished with and head back towards proper bullish territory. I choose to go to the Moon!

Photographer's corner:

This is a dual purpose post. I also get to share one of my Moon pics from last night. Full disclosure: it's "our" Moon pic. Mrs Brain and I were both snapping away with the same camera - taking turns to alternatively photograph or sit inside the warm house (it was pretty cold in Bitland last night). Having snapped 119 of them, we don't know who took which pictures. For the photophiles among you, here are the photo details:

Subject: Lunar Eclipse - July 2018
Camera: Canon EOS 100D
Lens: Canon zoom lens EF 75-300mm
Shutter speed: 3.2 s
ISO: 100 (good during regular full Moons, not a good choice during an eclipse - forgetful old me)
F-stop: 5.6
Focal length: 300mm
Editing: cropped, RBG and R mid-tones adjusted slightly brighter, mild sharpening

Some final words of encouragement to all of the crypto traders and investors out there. They were most certainly never said with crypto in mind, yet they are very applicable!

"We choose to go to the Moon! We choose to go to the Moon in this decade and do the other things, not because they are easy, but because they are hard; because that goal will serve to organize and measure the best of our energies and skills, because that challenge is one that we are willing to accept, one we are unwilling to postpone, and one we intend to win, and the others, too." ~ John F. Kennedy, 12 September 1962.

Yours in Mooning crypto,
Bit Brain

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