Bitcoin Bounce Is In, The Drop Follows ($3k, $4k or $6k?)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Remember the bounce I mentioned in my last article?

"As soon as this bounce is done... You can expect Bitcoin to drop some more."

Right now we have a lower-high (bounce) on the daily timeframe which supports the bearish view.

We have the trading volume going lower and the indicators starting to turn.
Prices are still trading above EMA10, but the lower high and lower volume are signaling another drop .

Conditions for change

For prices to move higher for Bitcoin , the last peak at $10045 needs to be broken.

  • We remain open to more down while prices remain below this level.
  • If prices move above the last peak, the bulls can gain back control.Red is clear here.
    Prices will soon start to drop .

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I Love your analysis
I wait it
+3 Reply
@Mastane, Thanks a lot, appreciated.
Good news for ALTS / BTC then? Because it's not great at the moment :) all red

Thanks for your work
+2 Reply
alanmasters UnknownUnicorn6050514
@UnknownUnicorn6050514, They will grow.

Focus on the weekly close for higher lows.
The new lows you are seeing are only wicks and many altcoins already broke their last peaks and breaking higher.
Btc will never ever go to 3k i bet
+2 Reply
Nagat biohacker8
@biohacker8, how much will you give me if it reaches there?
+1 Reply
@Nagat, that's not a bet you will win statistically my friend
alanmasters KonohaSas
@KonohaSas, There is a CME Gap, these tend to fill.
KonohaSas alanmasters
@alanmasters some CME gaps fill, others don't. Just cos a gap exists doesn't mean it will fill. Also, given the odds of it even reaching the 6k range being low, I'd take that bet 9 times out of 10 and I'd win. Of course you'd win 1 time. Those are the sort of odds we're talking about.
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