Bitcoin - New Low or Double Bottom !?
Updated
What's up everyone, bitcoin is currently on the downtrend on it's last volume day of the week. The move might continue during the week end but if it does its gonna be with very small volume. The question now is are we going to double bottom at $7240 or keep going down? Well if we follow the general direction of the market we should be making a new low. The thing is there isn't much time left during so the new low (in my opinion) should logically be very small which leaves only a single level in my mind and that's $6950.
If you've taken my short trade entering at $8200 your target should still be $7250 as it's the safe bet.
Please like and follow if you agree!
If you've taken my short trade entering at $8200 your target should still be $7250 as it's the safe bet.
Please like and follow if you agree!
Note
Clarification: I don't think 6950 is the end of the downtrend, I'm only saying it's the next target. I still think BTC is going sub $4700
Related publications
Disclaimer
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.