Gann says time is up for big move either way, Currently holding crucial support of timing lines on both my long term and medium term origin durations. Failure to hold here will see price head towards the high 7000's or the upside break will see BTC break previous trend high created several months ago. My bias is towards the upside due to
1. The strong time line supports
2. Price having closed out a valley level successfully recently (Gold Line at 10,942), breaking thru this level next time could be a breeze.
3. Macro trend is bullish, been in an accumulation phase for past three months.
1. The strong time line supports
2. Price having closed out a valley level successfully recently (Gold Line at 10,942), breaking thru this level next time could be a breeze.
3. Macro trend is bullish, been in an accumulation phase for past three months.
Currently holding Gann time line supports of medium and long duration (blue and white lines). These are presently placed between the macro .5 and .618 fibs with the next Major Gann support in the 7200-7000 area which coincides with the .618 fib at 7200. Personally l think it will drop there before any major bounce to the upside. Failing that support we go to 5100- 5300 range where we are greeted by the .786 fib and another long term Gann time line.