Originally posted at Capitalstool, the Stool Pigeons Wire
Last week, before the Saturday Night Slaughter, BTC’s one year cycle projection was 12,000. Now it’s 1500. Here’s how it looks on a linear scale chart. As you can see, there’s trend sport around 17,000-16,500 Sunday and Monday. If that breaks, then the next semi-likely sport line and bounce point would be from around 14k.
This does not surprise us because the conventional measured move target of the top breakdown has always been 5000 below zero.
Here again is a linear scale view of the long term. This chart suggests that the next sport level is around 13,000.
The hourly chart is holding for the time being, as of Sunday morning.
I’ll be posting an update of the technical stock market outlook at Liquidity Trader a bit later today. Stay tuned for that.
