stephen0215
Short

Further analysis after this formation breakout!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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2
138 2
Hey! folks. Let's see how the price goes on in the next few weeks.
As you can find btc has already develops the descending triangle since the very beginning of this year.
The resistance line still keeps the bulls sideways under this negative slope which means we hav no much area to hold 6k.
Probably the huge squeeze would occur before the weekly candle shows up. Or after the next Monday...
But interesting thing to notice is that main support has 3 rounds to deal with the bloodbath the bears are preparing to trigger.
5800-6000: the first one has maintained for the past few months.
4800~5000: Aware the second support line if the bears trying to reach that the panics definitely would come & players start selling their crypto properties at extreme low price.
2800~3000: the worst scenario u had ever seen but probably the best price to buy in this year for long term investment.

Just relax and take it easy. ;)
Oct 06
Comment: As u can see. Just take a look at the 1D timeframe chart
https://www.tradingview.com/chart/ZLu8Mf...
Oct 06
Comment: Here is the link. Good luck ;)
Oct 06
Comment:
stephen0215 eduardokaykedasilva
@eduardokaykedasilva, thx for ur update.
Reply
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