Howdy Fartners,
Just me again the cryptofou, coming at ya with a yet another little technical analysis. As you can see, the BTC price has been forming a downward trending pattern for the last 6 months in the LN linear regression band (2STDV+/-). The Bitcoin price has experienced heavy resistance around the 8400-8200 level, I strongly believe that the price will continue in its downward trending pattern to the bottom of the channel following a double top of around 8150.
The price could also possibly continue downtrending until reaching the next significant trading zone of 6700, if bulls do not hold this price. There is potential of a further decline to $4800-5000 their is a possibility the bitcoin price will retrace from
Follow my on twitter
@cryptofou
Just me again the cryptofou, coming at ya with a yet another little technical analysis. As you can see, the BTC price has been forming a downward trending pattern for the last 6 months in the LN linear regression band (2STDV+/-). The Bitcoin price has experienced heavy resistance around the 8400-8200 level, I strongly believe that the price will continue in its downward trending pattern to the bottom of the channel following a double top of around 8150.
The price could also possibly continue downtrending until reaching the next significant trading zone of 6700, if bulls do not hold this price. There is potential of a further decline to $4800-5000 their is a possibility the bitcoin price will retrace from
Follow my on twitter
@cryptofou
Comment:
Stop loss at 8210