Most of the time when btc broke 7000 level it went between 400 and 1500 pips before reversing
Possibility of btc going to 7630 to 7800 and bouncing down to 5800 or 3k level seems pretty high
until btc breaks 8500 i shall not be bullish
Reasons for being bearish
-4 times when btc ended up being bearish it didnt break resistance at 7630-7800 only once it went to 8500
-when you put profile volume on 1d chart and zoom out so you can see 17 august 17 to today you will see the small volume area is 7655-7729(which means it will eather reverse there or pass through this area qucikly)
-also around 4895 was previouse resistance of a first bull(18k)run and support for a seconde bull run(14k) and btc broke this..so next support is at 3k which if it hits it would make a seconde legg of a double w pattern if you look at 1 day chart
First post! :)
Possibility of btc going to 7630 to 7800 and bouncing down to 5800 or 3k level seems pretty high
until btc breaks 8500 i shall not be bullish
Reasons for being bearish
-4 times when btc ended up being bearish it didnt break resistance at 7630-7800 only once it went to 8500
-when you put profile volume on 1d chart and zoom out so you can see 17 august 17 to today you will see the small volume area is 7655-7729(which means it will eather reverse there or pass through this area qucikly)
-also around 4895 was previouse resistance of a first bull(18k)run and support for a seconde bull run(14k) and btc broke this..so next support is at 3k which if it hits it would make a seconde legg of a double w pattern if you look at 1 day chart
First post! :)