As you can see - the previous worked out absolutely great! The price has reached the mark of $10940, but was rejected. As the result we saw a HUGE dump down to $10470 zone. The price has absorbed the whole distribution zone.
Each such a big dump is a very bearish signal, because of which we can conclude that the next price movement will be a downward. However, BTC is currently located above the ascending support which can save the price from further falling. Therefore, we have two options - SHORT and LONG, priority is 68% and 32%.
In case the market breaks through the ascending support and takes hold below one - we would see a further decline in price to the mentioned supports($10270, $10060, $9760). If the market breaks the resistance at $10470 and takes the upward vector, then we can expect the continuation of upward movements, because in this case the price will return to the horizontal channel (distribution zone).
In any case, current market priority is downward. You can try SHORT in the range of $10470 and lower. Stop Loss above the level.
Flip a coin.... the whales create complete randomness - at will....
CryptoMilly
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@sdubyag, Very annoying that because bitcoin is a digital currency and not a security, there’s no prohibition against a trade in which a group agrees to buy enough to push the price up and then cashes out in minutes. The only thing casual or intermediate traders can do with bitcoin is ride the wave of the whales :-|
Moe_mentum
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Good work
Its_Gui
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It wouldn't be foolish to visit my profile and trust what I say on it. Or would it ?
mahin242
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i agree with u.... i think the probability of downtrend is more high ..like 90%....
MichaelEssing
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It is still going up! Can we still consider it as a correction?