I'm not saying this is definitely going to happen but the indicators don't look great. the fibonacci retracement says that we can move down all the way to 8k, maybe even 5k. rsi also doesn't show any signs of strength. the trend alteration is probably going to happen in the next few days. I hope to be wrong.
I've been waiting for that break to the 8K Fib zone for what seems like ages. BTC just keeps (barely) clinging on. I wouldn't care except that it's going to drag all the alts down as well.
@cryptonetti, The fact that the chart is fundamentally wrong.
JJwatttrading
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@Jamesthebang, fundementally wrong ?? What are you talking about lol this is technical analysis you can't use fundemental analysis to predict technicals. This chart just shows the current status of Bitcoin maybe there will be a trend reversal but until there is evidence of that you are "fundementally wrong". Lol
cryptonetti
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@JAyeIV, I also didn't get what he meant by saying fundamentally wrong. besides, nothing has changed from TA perspective. BTC is still in the ballpark to go either way.
cryptonetti
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@Jamesthebang, yeah I'm trying to understand what you mean by "wrong"?
JJwatttrading
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@cryptonetti, just common mistake by people they try to predict the future instead of understand the present. Before today Bitcoin is in down trend maybe it reverses today based off the venture capital news but your analysis was sound ;)