krishisdead
Short

Another crucial moment for BTCUSD - daily under old support!

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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The chart speaks for itself. The daily candle is under old support and struggling to get over it. We would need a push over 7k to save this otherwise more downside should follow. I'm still leaning bearish .

This isn't the time to be opening a position - that was over the past three days. Wait until the market moves.
Comment: Pushed under support.
Comment: ;)

Comment: You can't say I didn't tell you ;)

Comment: We're touching the 89th day. Time for a big move.

Back with another possible scenario:
Comment: This is getting too easy to spot now!
Comment: And on the 89th day, we broke down again..
Comment: ;)
As I just posted on Botje: I expect greater market volatility as the average true range has been at a super low prior to breakout from the symmetrical triangle on the down side. The symmetrical triangle usually being a volatility compression pattern.

We still havnt had a capitulation event to allow for a new bull market to form.

Still need an increase in volatility and a massive sell off to occur.

I didn't expect the triangle breakout to occur for another month though.
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So what happens AFTER it moves? Lets say it goes to 6000. What then? where is the bottom, when volume returns? How much volume?
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