BTC: A Glance of Weekly and Daily timeframes

Our weekly and daily charts aren't looking pretty for our short-term investors. The weekly chart is forming a curve, which could end up with two scenarios.

First scenario: next week BTC will keep moving sideways till it break up toward a new ATH (less likely), or the downward trend will be formed on the daily.

In our second (more likely) scenario price action should carry on to our weekly chart and we will see a down trend for the next couple of months.

Either way, watch that pivot point closely because that's what could determine how things are going to turn out. In my opinion, this is the time for a wise investor to sit on cash and watch the market movement waiting for confirmation of either scenarios.

Komen:

We are getting closer to our pivot point and things are still pretty ugly.

Komen:

oh shoot! I swear I was going to write "a glance AT" not "of" haha

Komen:

This level of accuracy deserves more love!

Komen:

Landing on the weekly target. 4k to go!

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