Well that weekly chart we have been watching is looking like BTC might have topped out already. We tapped the bottom of the green cloud and now we look to the rest of the week.
If it can hold above $7859 I suspect we see it trade above/at that price for an extended period. If it does not hold this level I figure it breaks lower toward $7500 and below. If this happens I'd expect a decent bounce at $7300 but nothing substantial as it would continue lower $6900-$6600.
Being below that green cloud, it flipping bearish, and how quick it bounced to the Ichimoku cloud, I'd suspect we head downward from here breaking the $7800 to head lower.
If it can hold above $7859 I suspect we see it trade above/at that price for an extended period. If it does not hold this level I figure it breaks lower toward $7500 and below. If this happens I'd expect a decent bounce at $7300 but nothing substantial as it would continue lower $6900-$6600.
Being below that green cloud, it flipping bearish, and how quick it bounced to the Ichimoku cloud, I'd suspect we head downward from here breaking the $7800 to head lower.
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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.