damasopg

BTCUSD Coming back to test 6.5k again (BEAR SCENARIO)

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Rising wedgy wedge .... 6.5k posible target. Invalidate if we break 9.5 violently.
Comment: Rising wedge still in play, the break to the upside wasn't strong enough and it was taken down by the bearish divergences:



6.5k is the textbook target no the absolut target, we have to break 8.8k and 8.1k before, there is a lot of ground to cover for the bears.

I use the ideas tool for my self evaluation, dont follow my TA,please. hahahahaha
Comment: 8.8k target achieved, no bull volume we will keep going down 8.1K in the horizon. the target depends on the speed at wich we drop down.


Daily engulfing red candle... Super bearish sign
Comment: It took time but.....
I doubt we break through 8700 support but if we do 8100 will surely hold
Reply
we have plenty support before we fall that low. not to be too ambitious and optimistic, but i dont see this happening.
+3 Reply
The only reason I can see why people are calling 6k,5k, or even 4k, is because they missed out at 6.6k. Yes BTC will retrace eventually, but 8.1k Max
+2 Reply
arrie1992 HoudiniX
@HoudiniX, How could they miss it? :p it was trading at 6500 for a few days. Plenty of time to buy it then.. but they were afraid I think ^^
Reply
HoudiniX arrie1992
@arrie1992, Exactly! The problem was people calling very low figures like 4k-3k when it was at 6.8-6.5k so of course, people waited and missed out. I layered my buys from 7.5k and increased my buy amount every time it went lower to dollar cost average.
+1 Reply
damasopg HoudiniX
@HoudiniX, BTC hasn't still supassed any big level, the 9220 was important for the bulls but we have to gain the 11.7K double top to get out of the woods :)
Reply
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