___________________________________________________________________________________________________________________ Hello guys, bitcoin made a sharp bear move the last time. As you can see in my chart it is trading in a channel and wedge formation. We will see an up-move soon to the area seen in my chart, at the psychological level 9900 - 10.000 USD. Bitcoin touched exactly the lower line of the wedge and channel. Strong support is at 8000 - 8100 USD. ___________________________________________________________________________________________________________________ RSI: Oversold Stochastic: Oversold Target: 9800 - 9900 ___________________________________________________________________________________________________________________ Information provided is only educational and should not be used to take action in markets. Thanks. ___________________________________________________________________________________________________________________
All of my lines tell me that $7000 by next week is more likely.
VincePrince
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@TelecomTycoon, How do your "lines" tell you that?!
ferGOD
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Alright, we came close towards that first resistance in what appears to be an ABC zigzag (Wave 4). Was this it? Or is this part of a complex correction? Yes!
I think that we will recover during the coming days.
> Pattern looks done
> Hourly bullish divergence
Targets? Short-term
> $7500
> $7150
This was a complex correction in the bearish trend. It's done now.
All of my lines tell me that $7000 by next week is more likely.