The bull run accurately described in my previous analysis touched the top of the downtrend channel and reverted. A steep bear trend has appeared and the next bull phase should be decided at the level shown on the chart.
If this support does not hold, all hell will break loose on BTC and the run could go as far as 4k.
If this support holds and a rebound breaks upward the short term downtrend channel, then the long term downtrend is on the bets.
If this long term downtrend is broken upward we cold see a rally to 18k.
Trade safely this is a dangerous situation I've closed my previously opened long position and will see what to do next in about 24hr.
If this support does not hold, all hell will break loose on BTC and the run could go as far as 4k.
If this support holds and a rebound breaks upward the short term downtrend channel, then the long term downtrend is on the bets.
If this long term downtrend is broken upward we cold see a rally to 18k.
Trade safely this is a dangerous situation I've closed my previously opened long position and will see what to do next in about 24hr.
Trade closed: target reached:
So instead of 24hr, it took 96hrs to reach the dreaded 9.3k
