BITCOIN, according to recent analysis we should open a SHORT.
During the last flat 
BTC formed a native bearish wedge. Important thing: the resistance of this wedge was created much before the wedge was formed which makes level even more strong. Therefore, if the price tries to go upward (above $8350 - $8400 level) - it would face not only a bunch of strong horizontal resistance, but two ascending strong resistances as well.
Moreover, I've noticed a descending resistance (thin line above the price). This level deflected the price during a re-test of the support (already resistance) of the bearish wedge.
What do we have in sum? A bunch of signs that tell us to open SHORT position. However, in case bulls are stubborn, we can go upward for a little bit and reach $8350 - $8450 level, but more likely, they won't have enough powers to break higher.
However, in bulls are not going to resist, we would seeBTC at $7500 - $7600 level. In case the price won't be able to take hold above this level, we can fall lower to $7100 - $7200 and fully close the GAP at the CME Bitcoin Futures chart (our idea about one).
If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!
BTC formed a native bearish wedge. Important thing: the resistance of this wedge was created much before the wedge was formed which makes level even more strong. Therefore, if the price tries to go upward (above $8350 - $8400 level) - it would face not only a bunch of strong horizontal resistance, but two ascending strong resistances as well. Moreover, I've noticed a descending resistance (thin line above the price). This level deflected the price during a re-test of the support (already resistance) of the bearish wedge.
What do we have in sum? A bunch of signs that tell us to open SHORT position. However, in case bulls are stubborn, we can go upward for a little bit and reach $8350 - $8450 level, but more likely, they won't have enough powers to break higher.
However, in bulls are not going to resist, we would see
BTC at $7500 - $7600 level. In case the price won't be able to take hold above this level, we can fall lower to $7100 - $7200 and fully close the GAP at the CME Bitcoin Futures chart (our idea about one). If you found this idea interesting, do not forget to Like it and subscribe to the profile, so as not to miss our updates!
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