BitcoinShort
BTC Distribution
Updated
Expect stronger support at the fibonacci levels and at the SOW's (purple lines), wait for the retracements to enter a short.
Most likely area for a bullish reversal is at $7000 - $6800
Most likely area for a bullish reversal is at $7000 - $6800
Trade active
Sell volume is declining - which is bullish, but it looks rather like a retracement than a bounce to me. Trade closed: target reached
We can see an ascending triangle forming and also considering the declining sell volume on the weekly
gives us a hint that we are close to the bottom.
I will wait for a breakout in either direction but I think that bears are getting more and more exhausted which gives bulls an opportunity to take control
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