BTC is currently at a point where it could bounce if we are to see a relief rally from this 6hr sell off. However, if it doesn't bounce and it falls through the rising level of support we have been building, IMO the next realistic target is $6500. Medium term target (next few days) is $6300, and possibly $5.8k. PLEASE NOTE THAT SELL VOLUME IS CURRENTLY INCREASING...
The chart above contains clear bearish confluence per TA. Volume since 03/12 has decreased, and remained mostly stagnant. However, we can see that price has mostly increased during this time as well! This tells us that it is probable that bulls are becoming exhausted. Big Bears are waiting to step in. Here we are at a tipping point. We have failed to break through...
After BTC's dump of roughly 8% between 04/09/2020 and 04/10/2020, we are currently trading inside of a rather quiet range. Volume is decreasing while bulls are trying to push prices higher, and there are several bearish technical indicators on the weekly, daily, and intraday charts. As we can see on the attached chart, there is a possible head and shoulders...
Volume is low, and I believe we will see a bit more of a correction over the next couple of days, before going up some more. There might also be a nice bear flag to be confirmed on the four hour. We will see! Currently short @ $6770
Descending triangle on 30min almost complete. Get some shorts in there! (If you want to of course, I'm not a financial advisor. This is just my opinion.)
BTC is going to go to at least $5900 before there will be another prolonged period of quiet price action. As it can be seen on the chart posted, a Bart pattern is about to complete. In addition to that, we have now completed an Adam and Eve double top. Get out while you can! She's coming down..
I am predicting that we will see BTC enter the $7k-$7.5k range this week (likely within the next 72hrs). As it can be observed on the attached chart, we are currently trading at the $5.9k level.. However, this is only a shakeout following the completed pennant pattern outlined in purple on the chart. DO NOT BE DISCOURAGED BULLS. THE RISE IS COMING. Not only do we...