Green was a minor uptrend channel Purple is a minor forming downtrend channel White are previous support . resistance levels.
Minor Trend Lines Pink - Supports White - Major Trend Maroon
My opinions on where we headed - and spots to look for a bounce. Remember the whales come out when the price stabilizes - that's when the traps get set.
This chart is as bearish as a bear that just ate a bear. Major Down Trend Support around 6500 . . . Zoom out to further analyze that. Looking for major downside short action here - give yourself enough play to protect against whale push / bull traps and liquidation
There are several bearish trends in the BTC/USD chart. See my analysis on the chart for more information and my opinion on support levels for the decline.
Bullish Trend - Falling Wedge - Watch for a breakout of the upper trend line for a great BUY opportunity.
tight scalps if anything. Im waiting for a bigger trend to emerge - be careful
Choppy Waters in the BTC however, it is slightly bullish and ripe for the taking. Playing / Shorting a red bar that closes below the MA seems to be working well today.