RichMend

Where will BTC go in the next couple months?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
So this is what I came up with...either break up passed the 6300$ level following the blue line and potentially get rejected at two different levels....or make a little move up to 6300$ then get rejected and continue going down following the red line either stopping or breaking the 8450$ support level . Let me know what you guys/gals think.
Comment: Opps , my mistake. I meant 5845*** instead of 8450$.
Comment: So it looks like we hit our down trend line from the top and now heading down to the orange box I put up. We may stay sideways in the orange box or potentially have a small bounce at 6600$. Either way im pretty confident we stay within those 2 green downtrend lines from the top. Maybe down to 6800 and then up to 7300 for our last ride before we drop down to new lows. Very strong previous support in the 4300-5k. Let me know what you guys & gals think!

Comments

I think.........uhmmm............how can it get rejected at 6300 and fall breaking the 8450?? You fall up, or down
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RichMend MiO-82
@MiO-82, Well I as far as 6300$ im meaning the situation we are in right now. We havent went above and held it yet. So if we hit it bears will keep pushing us down.
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MiO-82 RichMend
@RichMend, Thanx for explaining!!
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RichMend MiO-82
@MiO-82, Sorry I didnt realize I put 8450. I was meaning the 5845 level. I dunno where I got 8450 lol
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