With the previous double top pattern formed through the 19500 and 17300 peaks, BTC went down to 6600. Followed by Head & Shoulders, taking it up all the way to 11800. Currently, BTC formed a double top again and expected to go down to 6000-6600 (coinciding with the support levels).
By reaching to the 6000-6600 level, it will be completing a double bottom, taking it all the way up to 12000 level.
By reaching to the 6000-6600 level, it will be completing a double bottom, taking it all the way up to 12000 level.
Comment:
it seems BTC is still going along our descending channel, so far we are still headed towards 6000-6600, I personally don't think there is any reason to panic from the recent bounces, it's all conclusive with the down trend following the previously formed double top
Trade active:
As mentioned previously, we are now waiting for BTC at the 6000-6600. Expected to rise nicely and ultimately to the 12000 levels and then we can analyze from there :)
A little boost in the price today showed a noticeable volume of people on standby waiting to join in but that was the wrong time, definitely wait for the 6000-6600 before deciding to get back on the game!
A little boost in the price today showed a noticeable volume of people on standby waiting to join in but that was the wrong time, definitely wait for the 6000-6600 before deciding to get back on the game!
Comment:
6600 obviously showing some support as expected two weeks ago, breaking this support should easily take us to the 5600-5800, see you down there! :)
Comment:
BTC bounced off the 6600 support, which was a great buy-in opportunity, let's see how it handles the 7800 resistance