Return to the breakdown zone

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
It's hard to define exact levels of resistance around this area, but we seem to have a descending wedge into strong support here in the $210s, which should result in snap back up for a correction. After that is anyone's guess, but I'm still leaning toward a long term bear market.

Given the oversold condition, I would say a snap back to the $240s is likely. There was a good breakdown trade opportunity at $235, but I missed it. That said, I think there will be more shorting opportunities in the future. Volume is nothing spectacular at this moment, so we should see a break in the selling soon.
+1 like always. If I could only follow three traders on Tradingview you would be one of them :)
+2 Reply
MoonTrader ChartArt
lmao your the worst charter
-2 Reply
MoonTrader Alekznder
Care to explain?
Alekznder MoonTrader
I retract my comment. Your moon charts seem to have been replaced with bear ones.
+1 Reply
MoonTrader Alekznder
MoonTrader MoonTrader
I've been bearish ever since we touched $300. Where have you been?
Alekznder MoonTrader
not here lol. your charts before-hand were calling dumb bubbles I disregarded them
+1 Moontrader!

As usual I largely agree with you. The neckline is going to be too much for people to resist. 1800 BTC to pick up on quarterlies at 229.

However, getting past that seems a bit overly optimistic to me. *we will see* :)
MoonTrader Burrmarket
You may be right, but at any rate, I think we're due for a bounce.
+1 Reply
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