BTC is located in the very confusing area. You have to bet for its direction at over here.
- Bull case
: it's rather reliable area that it looks like forming a descending triangle and it finally about to reach its lower support line.
: BTC has broken its Fibo circles 1.618 at the daily candle, but it may bounce up here and may got strong support by Fibo circles 1.618 & descending triangle support line.
: indicators shows that BTC needs somewhat more dump to the bottom.
- Bear case
: First of all, all of these short-term bull run to Fibo 0.618 may be probably only a dead cat bounce. It's time to go to the new low.
: in case of the descending triangle(bearish), BTC's target could be somewhere around 6.5K~7.1K.
When BTC falls down to 6 or 7K, nobody knows its further direction, beacuse somewhere around 6K is very significant area for both bulls & bears.
- IMAO, I'm a short-term bear dreaming a X00K, my chart shows that BTC need to revisit 1K again for its the 3rd jump.
*I think BTCUSD has very strong support zones under 9K, so we do not need to panic on the further dump.
Keep watching & take your own risk.
Good luck.
- Bull case
: it's rather reliable area that it looks like forming a descending triangle and it finally about to reach its lower support line.
: BTC has broken its Fibo circles 1.618 at the daily candle, but it may bounce up here and may got strong support by Fibo circles 1.618 & descending triangle support line.
: indicators shows that BTC needs somewhat more dump to the bottom.
- Bear case
: First of all, all of these short-term bull run to Fibo 0.618 may be probably only a dead cat bounce. It's time to go to the new low.
: in case of the descending triangle(bearish), BTC's target could be somewhere around 6.5K~7.1K.
When BTC falls down to 6 or 7K, nobody knows its further direction, beacuse somewhere around 6K is very significant area for both bulls & bears.
- IMAO, I'm a short-term bear dreaming a X00K, my chart shows that BTC need to revisit 1K again for its the 3rd jump.
*I think BTCUSD has very strong support zones under 9K, so we do not need to panic on the further dump.
Keep watching & take your own risk.
Good luck.
Comment:
supported by 100ma
Comment:
hidden bearish divergence RSI at 1H chart
Beware of it
Beware of it
Comment:
If BTC surpass 10296, hidden bearish divergence is invalidated.
