Hi traders, as you can see we predicted harsh down from 7800. Our target to go long or to accumulate was 6850 which surpassed as the trend line of the triangle was broken. At this moment we still seeing more downside action towards the previous supports (6000 and 6450) due to:
- a pennant which is a bearish formation which indicates continuation for the downtrend.
- people still not interested in buying at this prices which is telling us that they still waiting for a price target such as those previous supports.
So, another leg down is ineluctable which will lead us to those supports where we have to se bulls taking action confirmed with big volume, if not, it would be a devastating event in bitcoin (for holders) or an advantageous event for those who are shorting or want to accumulate more bitcoin.
happy trading!!
- a pennant which is a bearish formation which indicates continuation for the downtrend.
- people still not interested in buying at this prices which is telling us that they still waiting for a price target such as those previous supports.
So, another leg down is ineluctable which will lead us to those supports where we have to se bulls taking action confirmed with big volume, if not, it would be a devastating event in bitcoin (for holders) or an advantageous event for those who are shorting or want to accumulate more bitcoin.
happy trading!!