So, in my previous post, see below, I have shared my bearish view on BTC. I have doubted for a bit my analysis since yesterday. However, I re-assessed the price structure of BTC this morning, after closing my short positions unfortunately :(, because Now im more convinced that we are heading down for a serious retracement.
On the daily, an inverted flag pattern is being made at the moment. the breakout of this pattern will bring the price to the expected support level for its first test.
This all could be wrong, so lets wait and see!
On the daily, an inverted flag pattern is being made at the moment. the breakout of this pattern will bring the price to the expected support level for its first test.
This all could be wrong, so lets wait and see!
Note
The exact same price structure of the daily is being played at the moment on the hourly. its 1300 pm amsterdam time now.Note
URGENT UPDATE: this analysis is not valid anymore. I believe bitcoin is reversing and heading up after a breakout and a retest of the trendlineNote
My guess that Bitcoin is going toward 63000
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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.