Prediction evidence

Cr

Michaël van de Poppe

@CryptoMichNL

#Bitcoin is looking scary. Atleast, that's what everyone on social media make out of this. We clearly saw a rejection at $81,000, a cascade south towards $76,000 as that gap was ready to be closed, and an immediate rejection at $78,000. After this move, especially since the hack has been taking place, I think that you'd want to be on the long side much rather than the short side. What areas am I looking at? 1 - I'm looking at a sweep of the low and a response on the markets there. This would be a first indicator that we're looking for a low to be found. 2 - If this doesn't help, I think that everyone in the markets is waiting for the September low to be swept at $75,000. That would be the ultimate low to be hit, and I think that scaling into these ranges isn't a bad idea. On the upside, clearly $79,000 and preferably $80,000 needs to be flipped for support in order to be getting momentum back into the markets.