If history repeat itselfs we should see 9150 within hours..
We crushed 94xx lvl now and keep falling back when going up towards next resistance 95xx..
But if we have a healty correction and no BS we should indeed be in a uptrend because of volume and how BTC is holding support kind of strong..
But thats what many thought yesterday when we were going to 97xx after struggling between 9.5-9.6k lvls..
Lets se what happens ;)
Really basic chart, wouldnt even call it a chart haha.
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We starting going down now again.. The drop wasnt a surprise, where is the volume?
We already broken the white uptrend channel and we failed breaking the red downtrend channel..
many people think we are bullish just because we over 9k but remember we're not bullish 100% untill we pass 11.7k lvls.. between now and then we are bearbullish..
Be what the market are! You are not choosen to be a bull or a bear ;) The market
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Will 9300 hold?
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Sick Etherum passed BTC on Worldcoinindex (24 Volume)
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Our supports level since 9700 turns out to be BIG resistance now.. So we are indeed in a downtrend market. We go up and down but overall we going down..
I might upload a NEW TA later when i get home from work.
But 87xx-88xx levels are not far away now, just a 15 min candle ;)
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Remember BTC will tease us to join the train when fake breaking resistance levels as it has been doing ALOT latly, but Where is the volume to push us towards 9.5-9.7k lvls? I dont see it..
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Thanks for all the positive feedback!
BTC is weak if we cant break 93xx area and a push back up towards 94xx area this scenario that played out last couple of times MIGHT happen..
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Our 9250 small support area is hard to hold and we falling even more towards 9-9.1xx levels, if these dont hold and IF we have the same pattern repeating we will fall to strong support levels around 8.7-8.8xx.. But a bounce at 9k can change it all. (volume isnt strong either, just like last night)..
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Almost same pattern completed
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If we dont break support 925xx-93xx towards 94xx today we will bleed towards 87xx-88xx soon...
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*Resistance ofcourse*
I mean yesterday 925xx-93xx was our support just like it day before yesterday support was around 94xx-95xx wich was resistance yesterday.. You see the pattern? Our "Support levels" becomes our new resistance levels the past 3 days now. So we are indeed going down if not we get hard bounce 91xx lvl and up and crush 93xx today i might change my mind depending on volume etc.
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91xx level is currently our new resistance.. and we keep getting rejected...But a bounce up towards 9.2xx levels wont suprise me at all because its how its been doing alot lately.. Trade with cautions!
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Dont forget to keep in mind this:
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If its completes i belive we will see 80xx-84xx range
91xx level is currently our new resistance.. and we keep getting rejected...But a bounce up towards 9.2xx levels wont suprise me at all because its how its been doing alot lately.. Trade with cautions!
UnknownUnicorn1065329
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Hey, I think w'll keep on going down for a while, you?
Robbanbiff
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@Bleek, Yeah we will def fall more, i dont know how much yet it depends, we have to consider we did not doubble bottom 6k and we did not break 10k (11.7k to show strong bullish sign) if this "next" lowest target is lets say around 7xxx something then it would be a bullish sign indeed when we making higher lows.. But untill 11.7k we are bearish and inbetween you can daytrade BTC and if we get some breakouts you can make some easy profits on alts after a bleeding day :)
Nash88
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@Robbanbiff, what do you think about golden cross?(50-EMA crossed 200-EMA) or it's didn't work in crypto?)) (death cross didn't work )
UnknownUnicorn2774089
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@Nash88, death cross is something invented by the share markets to spook people to sell while those who created the fear buy those sells. It worked perfectly on bitcoin as well.
death cross is a massive buy signal, it worked perfectly
TheCryptoLorax
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@Bleek, Maybe try a 5-3 Cycle for your elliott waves... so 1-5 and then ABC
kitkat16
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where do you think we are going from here mate?
Thanks for chart
What are the chances of seeing a rebound from 8.5-8.6k level? What are your current thoughts?
Robbanbiff
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@imfamousrajat, Ive shorted 9.7-9.8k levels and i did not think this fall would happen so fast, I think we will see a bounce at 85xx like we doing right now, but if we cant push it up to 8.7xx-8.8xx i think we will def fall more..
There are also weekend now and alot of panic sellers and alot of FUD going on, and this wave from 6.6 to 10k wasnt "healthy" imo..
So i correction was indeed a fact when we got rejected at 10k, I wont be suprised to see 7xxx levels..
I would not enter a trade untill confirmation of reverseal and high volume.. These "Fake" breakouts after fall have been to much lately and if we get rejected soon 81xx level would be my 1st target... But this is just me, i could get burned so dont take any financial advice from me;) Just sharing my toughts I have right now based on the current situation,