Why is going back to 6800 Very Dangerous for BTC?
Based on the recent retracement of BTC to 6800 and the bounce back, it has formed a cup and at the current levels, if we don't have enough buying power and sellers are coming back then by going back to test 6800 we will form a handle. This will crate the inverted Cup and Handle Pattern which is bearish. Based on the cup size that was formed, we expect the target to go to 6500 level.
You need to watch out for this pattern.
You need to watch out for this pattern.
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