Midterm Analysis of Bitcoin - TECHNICAL ONLY
Updated
The cryptocurrency is declining and has formed a broad bearish channel with successive lower highs and lower lows. Thus, Bitcoin will be driven to the demand level which is around 8000.00 unless bouncing up at 11000.00.
Possible Targets: @8000.00 (-1500 points).
Advice: Stay bearish and short every high points while we don't break 11000.00 upside.
Possible Targets: @8000.00 (-1500 points).
Advice: Stay bearish and short every high points while we don't break 11000.00 upside.
Note
11000 was slightly tested without being broken, pushing prices further down.Trade closed: stop reached
Bitcoin was pushed upside to the supply level but created a lower High evincing seller's presence.
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