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Bitcoin (BTC) Morning Update: The Final Dip?

Haejin Lee BTC SUMMARY

And here is that one more dip I had labeled and posted on last week for Bitcoin (BTC). The yellow lines on price and MACD could be acting out the final dip to bring both that much closer to the apex. This dip is likely to again temporarily pierce the long term support line. I would much prefer to have a sudden, deep stab down in price to shake out all the weak hands and have it as a price wick. Let's see what happens this week.

The zoomed out perspective shows also the declining sequence of upward wedges and the strength of the decline for each is less and less. Would you be a buyer or a seller at this point?

To last night's log chart fractal, I've added two prior fractals in 2013. There actually were three sequential fractals (two white and blue boxes). Each generated massive gains. Could the current correction be the fractal of the first box in 2013? IF so, could there be two more fractals after the current correction tags in the first 2,539% gain? Hmmm, let's see.

 

 

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.


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