Obviously Bitcoin broke out of a huge wedge to the downside, to be honest i expected more rejection off the $9370 support. This was the breaking of a weekly trend so the next stop is a weekly level at $7516. If you want to enter short wait for a retest of the 8750 levels or 9037 levels, but those have already been retested on lower time frames so I doubt that will happen. This is more of a post to call the bottom. You are only a bear until you are a bull. We are still in a bull market. I have a nice long set at $7500 I am expecting a quick wick then a continuation of the bull market.
Red: Daily
Blue: Weekly
White: Monthly
Red: Daily
Blue: Weekly
White: Monthly
Note
Limit order is at $7530 not $7500, always want to put it a little bit above the level.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.