Prior to the incoming $26k...
Expect a crash to begin over the next few days, dropping to $6200 on or around July 14th.
Next, the rebound:
Phase 1 target $9700 - Aug 17, 2020
This marks the end of the bearish market with a significant Inverse Head and Shoulders formation, which leads to the Phase 2 rally.
Phase 2 target $14,500 - Sept 4, 2020
Phase 2 rally gives new hope and results in FOMO driving the bear even higher in Phase 3.
Phase 3 target $26,000 - Oct 20, 2020
Phase 3 is simply the completion of FOMO and I expect a rapid drop after topping out at/around $26,000.
Expect a crash to begin over the next few days, dropping to $6200 on or around July 14th.
Next, the rebound:
Phase 1 target $9700 - Aug 17, 2020
This marks the end of the bearish market with a significant Inverse Head and Shoulders formation, which leads to the Phase 2 rally.
Phase 2 target $14,500 - Sept 4, 2020
Phase 2 rally gives new hope and results in FOMO driving the bear even higher in Phase 3.
Phase 3 target $26,000 - Oct 20, 2020
Phase 3 is simply the completion of FOMO and I expect a rapid drop after topping out at/around $26,000.
Trade closed: target reached
Target was reached, but 2 months later than expected.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.