Bear BTC
Updated
Look to buy in the green where there is structural support. Bounce at $17800 first before further decline
Note
$17576 price target reached on the same day-18 June. Price then bounced with continued downward pressure. Still Looking for price support in the green rectangle (just under $13200)Note
BTC price currently $18461. It has been several weeks since my first post for the ride down to about the $13500 level. Once BTC drops below the the support of $17800 I believe we will see a quick drop to about $13500.
Strong structural support is seen at the $13500, my target price. If you take the log of the price and plot the log Fib lines we come to a price of $12450 reconfirming my belief that this price may indeed be the bottom.
Note
Price of BTC is currently US$16,683. I still believe we have another drop coming towards my target of US$13,500 and below. You can see the support as the green rectangle on the graph.
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