BTC Update (Bear + Bull Forecasts)

30 May 2018

The point of the vertical white line is the 1.618 price and time zone of the next wave. If this is another corrective wave we can expect that area to be the top. If this is an impulse (subwaves of a larger wave 1) then we will still have a pull back (subwave 4) before going past the potential 'C' point. I'm afraid that until this 7900 region is tested it's quite hard to say what will happen. I'm sure that either way this will be a major resistance area as both the bull/bear outlooks show it to be a major point of interest. Either you sell there and the price never goes higher or you sell and then re-buy the breakout.

(The lines I have placed AFTER the vertical white line are purely conjecture).

30 May 2018

Not

I believe that we will take the bull option as we are currently at the bottom of the longer term symmetrical triangle.