First off thanks to @patrickulrich for letting me know about @steemleo! Go give him a follow if you'd like to support a great ambassador for crypto!
A few days back I made a post on @steemit giving three scenarios of where the price of Bitcoin could go. You can find it [here](https://steemit.com/bitcoin/@rpgbuilders/bitcoin-price-what-s-next-and-the-when-s-the-next-buying-opportunity) Unfortunately all three are still in play. I am leaning towards C atm, but this could change. Since we have 3 possibilities I have been charting daily, so we can try to clarify which one is right! Yesterday was great, as I called the price to head up to the trend line, Since it was very accurate I will just use it again. The yellow notes were from yesterday, the red ones from today.
As we see I called it perfectly!! Now does this mean the next target is right?? Time will tell, looking at indicators on the 4 hour chart it's possible. Also this could mean even lower than that blue box, but lets see if the price heads that way. This will give more strength to the "C" theory linked above. We must be careful before we place our shorts to make sure we are not in the "B" scenario heading up to 14k. tight stop losses will help with that!! Bitcoin retracing will give room for the alts to pop, as they look super ready!!
My second chart from yesterday, this is why we chart! Giving us sell regions! A friend of mine who also studies Elliot Wave once told me "charting is like being a weather man, you don't have to always be 100% right, just close" So true! I can't give prices a month from now, but I can give you a daily forecast!!
So basically today we are waiting for one more push up to the first or even second upper trend line and then downward movement! If the movement down is strong and fast we could be headed to the lower blue box. If it's a weak retracement and we regain some strength, then it's upwards to the 14k range. This is not financial advice! This is more of my trading journal than anything!
hiveblocks