BITTREX:BTCUSDT   Bitcoin / Tether

So far, BTC is tracing perfectly along option #1. However, we have just touched the new trend line . If that doesn't hold, price will continue to correct in line with the downward channel . This means that price will fall just below $8k to approximately $7.8k.

This is where things get very interesting. From here, we have two options: significant advance upwards (likely to breakout of downward channel ) or significant fall down to approximately $5.6k. So, I am very curious to see how this plays out. Stay tuned for more action.

Note: I will post a larger view so you all can see the long-term optics. While BTC may be in for some temporary pain, it will be just that: temporary. Long term, BTC shows no signs of weakness and is supported by a bullish curve.

Daily view of BTC.
Nice charts and appreciate the break down. Keep it up.
+1 Antworten
Interesting thing is if BTC hit 5k again, basically BTC price is going to back the its price back in Nov 2017. Haha.
wallstreetwise JayJeon1337
@JayJeon1337, Exactly. It would actually be a proper correction, given the massive speculation driving previous highs near $20k. But only time will tell.
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