Bollinger bands say "down BTC"

According to these Bollinger Bands, BTC is a sell and should go to see $7888.

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But probably lower.

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My other targets are around 6k for a triple bottom or 3-4.5k to hit the bottom of this channel.

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I must say, I have my eye on those two purple lines for a buy zone at 6800-7000. One is the trend line from the near double bottom at 6k/6.4k. The other is a much longer trend line from the previous bottoms 1836 on 7/16/2017 and 6440 on 04/01/2018, with a near miss at the bottom of 3k on 9/15/2017.

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On 5/3, bullish BTC broke the down trend resistance line and the previous high of ~$9750. On 5/4, BTC sustained those levels. Today, it is holding this level and formed a new high at 10k.

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Might be getting a nice bounce here.

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Confirmed

brendanlonson

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brendanlonson