After nearly a month of flirting with the bottom trendline of our channel, bitcoin finally indicates which direction it wants to go before August 1 and, as suspected, we are going down. As indicated in previous post, I am not a seller until we break below our green channel. We've done that today. I have transferred all of my Bitcoin (BTCUSD)value into Litecoin (LTCUSD) and will remain there until after the fork.
Our first stop on the way down will be $2400. Small bounce here. Probably quick. Maybe only hours to trade.
Next, $2375.
Followed by, $2320.
$2275
Possible support @ $2200.
Then $2100. If we break through the red trendline to get to $2100, it will definitely indicate more downside from here. I will re-analyze once we get there.
Happy trading friends.
Our first stop on the way down will be $2400. Small bounce here. Probably quick. Maybe only hours to trade.
Next, $2375.
Followed by, $2320.
$2275
Possible support @ $2200.
Then $2100. If we break through the red trendline to get to $2100, it will definitely indicate more downside from here. I will re-analyze once we get there.
Happy trading friends.
Stewdamus Trades -
Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
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Prophesying the price action of markets one chart at a time.
Crypto predictions, targets, how-tos, and much, much more!
Never miss a prophecy. Sign up for my free newsletter at:
stewdam.us
