BTC Big resistance at 6300/6400

Updated

It looks like the same patterns are occurring from the last big drops. The big red line going down is a heavy resistance. This would mean that we have upward movement to 6300/6400 and then a big drop yet again.

Don't get me wrong, we could very well be at a bottem and then a triple bottom would come in play. We just don't see enough volume yet to confirm it. If 6300/6400 resistance becomes support and we have confirmation that it will hold, then a triple bottom is very likely and maybe the next bull run to a new ATH will happen.

If we break 5800 Support, then we'll probaly go down more. Looking at the time it takes for these patterns to occur, it does look like the bear market is almost over. :D

Let's hope so.

Note

I still think we have to touch the red line before a major move

Davide_NL

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