Bitcoin is trading on a standard 1D Channel Down (RSI = 67.104, MACD = 446.400, Highs/Lows = 677.6506) that is close to its technical Higher High. This calls for a short term sell (within the channel) towards a potential Higher Low around 8,000. The slightest break above this Channel invalidates the pattern so shorters should keep a tight stop loss as the bullish waves of the current bull market are way too aggressive and the next medium term upside target for BTC is 11,500.
nope! it wasnt the case this time .how about longer term chart ?you are very good at that. as i remember you called the bottom +/- 5% .cheers kee up the good work
bbanno2
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Burned.
Womp womp womp wooooomp
etfsandstuff
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I agree on this one. I'm looking at the long term up trendline (red) as a brick wall of resistance. Until we take this out we are still technically in a long term bear market correction.
payam_prz
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I agree. Also 10K is a big psychological resistance. This could not just break so easy.