I looked into my little crystal ball and consulted the Tarot cards. This is what they told me is gonna happen to BTC.
Bitcoin just went up and hit greater channel resistance. The long upwards wick on the daily candle shows a lot of profit taking, and it’s likely that BTC will soon retrace down to past support around $5000.
Before it does that however, the smaller channel marked by the orange lines will probably act as support and result in a bounce. Maybe even up to greater channel resistance again, because that will correlate very nicely with the Bitcoin Gold hardfork on Oct 24th.
After the Bitcoin Gold hardfork there will be a lot of profit taking, and leading up until the big Segwit2x FUD around November 18th we’ll probably see a nice crash all the way down to greater channel support.
After that, moon forever 🙂
Will I be right?