I think we will be retracing the trend as per May\June. This time round we probably go below 5800, but you can't make such convincing statements as we always should refer to the charts every few days, at most. October or November is when we might hit bottom (if ETF fails) and other BAKKA type of things don't come. I am not convinced the ETF will be successful this year.
Note
I just realised what I have posted is another reverse/inverse head and shoulders, no different to July's pattern. I just believe the price will go lower this time round.Note
It seems some attempt to break the bear trend by low volume and bears cashing in. We might not even see a slight wedge forming ...before the next down trend. I'm still seeing it hitting 6180 and then a pause at 6000 before making its way to 5800 then more sideways trading. Definitely haven't found the bottom yetNote
I'm still bearish as the price has been rejected at 6600 a few times and trading sidewards. This might drag out a few more weeks before we have some strong signal. I feel that the price range will tighten.. Having said this, its potentially a means of making quick trades as the price range for BTC is $360. Note I initially thought there will be more for the bottom at least 5800 but this time round I think it will not be reached... until we have a spike up and then another bigger pullback.Note
we are seeing higher lows which I feel today can drop to at least $6250
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Discord: discord.com/invite/vb4hbP88vb (TradeToProspa)
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
Telegram: t.me/TprospaTradersbot
This community has signals now but with no risk management comms.
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.