As per previous analysis on 28 July 2018 we predict that BTC will hit its top channel line and will go down for correction breaking its support line to its next strong support line at 6864 and it is currently on the way towards it. Previous Analysis:
6.8K is Fib 0.686 retracement & a neck line as your chart shows.
I also think that 6.8K is a strong support line, but if BTC would fall down to that point it's very difficult to tell that BTC is still bullish.
If BTC fall back to 6.8K, we'd better to pray for BTC would protect the neck line otherwise it probably fallbak to 6000 or even lower. Sigh.
Andrew_Kay
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@divan1004, we will see how it reacts at that support line and will update this idea whether it will go upwards or downwards.
I also think that 6.8K is a strong support line, but if BTC would fall down to that point it's very difficult to tell that BTC is still bullish.
If BTC fall back to 6.8K, we'd better to pray for BTC would protect the neck line otherwise it probably fallbak to 6000 or even lower. Sigh.