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Robbby123

Bitcoin Drop Incoming! Maybe?

Short
Bitcoin (INDEX:BTCUSD)  
Robbby123 Updated   
INDEX:BTCUSD   Bitcoin
Trend Analysis Technical Indicators Chart Patterns Bitcoin (Cryptocurrency) BTCUSD BTC
3
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trendanalysis indicator chartpattern bitcoin btcusd btc
Bitcoin looks to be due for another drop biased on simple monthly RSI trend analysis. This is combination with weakness at forward resistance levels makes me believe we will see yet another famous Bitcoin winter dump. Targets for Bitcoin drops after major runups range from %75-85, so expect a bitcoin to be worth around 10-15k at the bottom of the reversal. This is a casual thing for Bitcoin to do so don't be worried about the upcoming discount. Stop loss will be triggered at a new ATH (All Time High). For now the position of choice is short.

Good luck on your trades,
Robbby
Trade active
Comment:
At first support FIB $42,500. If this breaks next support is at $34,500.

Good luck on your trades,
Robbby
Comment:
Bitcoin Drop Could Be Incoming (Head and Shoulders Pattern)
Head and Shoulders might accelerate this drop
Comment:
snapshot
Head and Shoulders is text book. Very good return to breakout with the main drop occurring afterwards.

Good luck on your trades,
-Robbby
Comment:
Hit the .382 Fib and showing support at the 25.8k level. If this support fails we will see a wick down to around 15-12k with a solid support at 16k. This will be the bottom for this cycle
Trade closed: target reached
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