Here we see a classic pattern formed where we have seen trend advance down, we pulled back, now we shall continue. We have seen this last time nothing has changed.
You will see below part 1 of this post where we had an analysis on $6000 and showed the last drop to this drop, this is still in play.
I believe what we have formed here is just a simple pattern it has pulled back to test the level and the .618 fib now we will break the 200EMA and be back on track with my initial post part 1.
I am yet to have the chart tell me anything other then this scenario, we don't have pouring in it's falling out.
In 50% of break outs whether it's downward or upward you will see the pattern it will always pull back and retest the level then continue in the same direction.
This is great if you are shorting as we were headed down and if you missed your short here is another opportunity to take it. Sell as soon as we cross that 200EMA.
I am going to find an alt to trade for you all tonight and let's pull some profit, not big profits but let's make it a stable profit that's low risk.
Cash Is King, All aboard the money train.
Part 1 attached below, this scenario is still in play and still stands.
It's very likely that this post will play out and we will see low level. Just keep in mind you can hold through this it will all be over in a matter of days. Or if we close below the 200EMA you can sell and buy back lower.
If we close below we will see quite a quick trip down, the black lines on the chart is where bitcoin found it's support on the last 6K drop.
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