martin1000

BTC WARNING - DROP RANGE

Long
BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Dear Traders

It is weekend time and I did't want to bother you with anothe analysis but.....

Bitcoin looks like it might soon test near $9,300 levels!!!!

As you can see on the evening sky there is bright doji star candlestick pattern (my last BTC Idea explain meaning) and if we go back to the previouse high $11700, wchich was tested twice but never break and than sale off started.
Now I can see same scennerio where we will test that $11700-$11600 level and if BTC does not break this levell, it will create double top reversal pattern and as a consequence will see drop up to $9300 level (at this level we can see strong resistance ).
Notice that we may see BTC will recover when drop to trend line $10600 but that is just a stop before further drop.
$9300 look like good buying oppurtunity I expect strong bounce from that level.

This is for education perpouse only.

Trade safe.

Comments

excellent call..it can happen if present downfall makes a h and s within..
Reply
martin1000 ghose12
@ghose12,
Thanks
Reply
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