New downward channel forming (note inverted chart). Expected it to follow the blue line. In this new descending channel it seems bitcoin is struggling to even oscillate through here and is getting forced down faster than i had anticipated (see my other chart). Looking to buy around 25k and then again 20-21k.
Simple and straight forward. Wait till the CME futures gap is filled (around 20k), then long the crap out of btc.
In the meantime feel free to short it!! Just be careful, actual btc may not drop as low while futures may do a very quick dip to 20k area before bouncing hard. Close to bottom is better than exact bottom of the dip.
Cheers!
Bitcoin has failed to break out of the downward channel. Moreover has already dipped below support between both macro and micro key fibonnaci retracements.
Next major resistance around 24k.
Personally im leaning on heading back to 20k to fill the CME BTC futures gap as part of this whole retracement before rocketing back up. Get your buy orders in now.
I...
Broke through the .618 on the short term knicked the .786 coming back to bounce off the 0.618.
Here's hoping it holds!! And another leg up.
If there's enough volume could be the lift of we need to push us to near 40k. Lets go!!
