dilsy111

BTC technical price analysis for the foreseeable future

BITFINEX:BTCUSD   Bitcoin
BTC ranging still albeit looking bearish, a little bounce here till it falls down to that long standing support line. I expect it to bounce there and create another higher low. The point of interest will be the next push up, if it fails to create a higher high and that lower high fractal is created I expect a fall down to the that gold zone (major support/confluence zone). If it gets there you would need to reassess the sentiment in the market as well as volume, downward velocity and market formation. I would expect it to really test that purple trend line down in the that confluence zone, I would definitely expect a bounce in this zone however.
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