@hhrree444, i believe it is coming back down to 47.5k or so
hhrree444
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@icehax, I hope your wrong as I will loose out but well done if you got this right - it was a tricky one - how far down roughly for btc ?
icehax
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@hhrree444, i sold like an idiot at 47.5k thinking it was gonna close the H&S and start heading towards 43-44k. Anyhow there are a couple of factors at play here in my opinion. We have just touched a strong resistance and from the look of the last 3 4H candles we have been rejected from here. There’s a descending support that we first have to break to go lower, if this or the next 4H candle closes below it we will see probably a fall back to 47k( 38th percentile Fibonacci line) However if we start heading up from here we might also expect it to break the resistance and start heading towards 55k (since that would also close the inverse head and shoulders that has been forming after the start of the correction. I really hope I’ll be able to buy back at least at the same price as before lol
Tez8
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@hhrree444, i cannot see BTC going lower than the 40k range - it will only be hitting this low for a short time. After, the bull run continues.
There is a lot of upward pressure on BTC medium and long term.
icehax
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@hhrree444, also the volume has been decreasing in the climb but is now slowly increasing while we go down, that’s also another factor at play. Money flow index and RSI also reached close to overbought values at the top of the climb so I think we will definitely see some sort of correction
mclardy30
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buy now be thankful later.. support the chain to the next round