The bears have been in firm control of the BTC
market for a few months now. We recently tested the long standing downward pointing price channel
and have resolved bearishly. Indeed, as of my last post, I was trying to sell some BTC
in that topping area and was only able to get filled on 1/3 of my order (61.8 tag, 705. tag and 78.6 tag). As a sign of just how weak BTC
is, we were only able to work our way up to the 61.8 fib and then failed. Over the short term I shall be looking for a battle in and around the 428 area ( OTE
long sweet spot). If that fails I fully expect the lows of 410 to be tested in earnest. Additionally, if that 410 level is broken it leaves a move down into the higher time frame OTE
long zone open to be tagged and a serious test of the lower end of our price channel
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