Hi everyone,
In my last post, I said that I believe we were well overdue for a correction. Now it seems, we are getting it. Currently BTC is sitting at $7,700ish while forming a symmetrical triangle. I still believe we’re going lower and I suspect our next stop might be possibly $6,800 and might even go so far as $6,000. This area saw BTC bounce within this range for quite some months before eating dirt in November and my theory is that we’ll test this range again to see if it will provide area of support. Then, hopefully, Bitcoin will go for a run again.
As always, these are my thoughts and interpretations of my charts, DYOR and act accordingly. Trade safe.
In my last post, I said that I believe we were well overdue for a correction. Now it seems, we are getting it. Currently BTC is sitting at $7,700ish while forming a symmetrical triangle. I still believe we’re going lower and I suspect our next stop might be possibly $6,800 and might even go so far as $6,000. This area saw BTC bounce within this range for quite some months before eating dirt in November and my theory is that we’ll test this range again to see if it will provide area of support. Then, hopefully, Bitcoin will go for a run again.
As always, these are my thoughts and interpretations of my charts, DYOR and act accordingly. Trade safe.
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Daily frame: