Well it's looking more and more like this is going to be a deeper correction which could easily take us to the mid 8000s and if that doesn't hold than next would be mid 7000s. As of right now I see $BTC traveling in a descending channel and is currently testing the eq as support. The demand zone, indicated by the rectangle, has already held us up 3 times, and now we're back testing demand only a after making a lower high. Not good for the bulls. I'll probably be opening shorts $9800 and 10k with a stop somewhere above 10.2k
We had an amazing start to 2019, but there is no reason the selloff can't be just as bad.
We had an amazing start to 2019, but there is no reason the selloff can't be just as bad.
Comment:
Analyzing the lower time frame and I see $BTC traveling in another descending channel. I would think the bulls would step in at some point to give price a little push, but if they don't his selloff is gonna get ugly.