Hello everyone!
BTC shows respect to that support line at the 7250 level, which I draw as the bear flag target.
But nothing like a strong bounce occured so far. Let's wait for a breakout, which at this point could happen up or down.
Scenario 1:
BTC bounces from that level, makes a short rally and comes back to retest this level. This will make this support even stronger, in case it will hold and Prices bounce from there again.
Scenario 2:
BTC breaks the support, finishes that bear flag at the 6400 level. The previous lows. Bear flag target and past lows correlate perfectly.
Additional: Also keep in mind that this Cycle finishes at the 6th of June. So theres enough time to end this in red.
PS: Have you noticed that the low from February 6th to the low from April 6th to the "probably" low at June 6th always play out every 60 days?! Coincidence? Obviously not! Time Cycles are a Great Tool to analyze Markets!
Good luck trading!
G.M.
BTC shows respect to that support line at the 7250 level, which I draw as the bear flag target.
But nothing like a strong bounce occured so far. Let's wait for a breakout, which at this point could happen up or down.
Scenario 1:
BTC bounces from that level, makes a short rally and comes back to retest this level. This will make this support even stronger, in case it will hold and Prices bounce from there again.
Scenario 2:
BTC breaks the support, finishes that bear flag at the 6400 level. The previous lows. Bear flag target and past lows correlate perfectly.
Additional: Also keep in mind that this Cycle finishes at the 6th of June. So theres enough time to end this in red.
PS: Have you noticed that the low from February 6th to the low from April 6th to the "probably" low at June 6th always play out every 60 days?! Coincidence? Obviously not! Time Cycles are a Great Tool to analyze Markets!
Good luck trading!
G.M.