BITCOIN MIDTERM BEARISH UPDATE
I think its likely BTC is doing a wedge formation, as we had low volume the last few days. I expect we will test the bottom of the wedge at (3670), and then go up for another retest at the resistance.
Then i believe it's very likely that we break down below it. The reason is that 3k,3-5k is a huge accumulation area. After the break i expect it to hit 1.618 extension at 3335 USD.
May the charts be with you!
Then i believe it's very likely that we break down below it. The reason is that 3k,3-5k is a huge accumulation area. After the break i expect it to hit 1.618 extension at 3335 USD.
May the charts be with you!
Note
If BTC continues to hold the resistance this should break down, very soon targetting 3300. Keeping stoploss at 3870. 
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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.