BITCOIN STILL ON A DOWNTREND UNLESS...

Bitcoin / U.S. dollarBitstamp

Description

⋅ May 23, 2020 3:23 PM

BITCOIN STILL ON A DOWNTREND UNLESS... it breaks the downtrend channel (green color), otherwise I see a bear flag and a double. top forming towards 0.616 fib.

BTCUSD.

Good luck

Comments

MartinSchnellmann

⋅ May 23, 2020 3:37 PM

why 6000?

TWIMARKETCAP

⋅ May 23, 2020 4:03 PM

@MartinSchnellmann, 0.618 Fibonacci retracement, plus is an important support area. So, probably will test that area.

transparent-fx

⋅ May 23, 2020 4:10 PM

here is what I have on btcusd after my MTA

TWIMARKETCAP

⋅ May 23, 2020 4:55 PM

@transparent-fx, you said that it will break the downtrend, it is possible too!