I think BTCUSD will drop down to approx 8753 before next rise towards approx 16k.
Trade active
⋅
This is playing out nicely today. My next target is 10700 area before further down.
Comment
⋅
I think it's possible BTC will pump to 11500 area. I will be holding my position on this short as I think it will bounce back down towards the 11k - 10700 area.
Trade active
⋅
I'm expecting a bounce up to 10k before continuing the downtrend. Gl all
Sounds great, can you share the reason as well?
Or it is only a hunch?
seanworkingdead
⋅
@josque, We have been bouncing between these 2 resistance/support lines since 26th June, we have just hit resistance and currently going down towards support. I think it will be a bumpy ride down but for me most indicators and time frames are pointing down to me.
josque
⋅
@seanyda, Gotcha! sound's reasonable, do you think it possible it'll go down till the support trend line underneath?
seanworkingdead
⋅
@josque, Yes very possible but we need to reevaluate this closer to the time. I would place my target at 8750 area and see if we can break the support.
josque
⋅
@seanyda, I could agree with you, the weekly candle closed underneath the historical resistant level, I don't know if the run will be so long down the road, but I can see it will probably stop for a while in 10800$
seanworkingdead
⋅
@josque, Agreed. I am looking at 10900/10800 levels next. I think it's very possible we might hit these targets today, if not probably tomorrow.
Or it is only a hunch?