leshacat
Short

BTC in downward wedge, going towards 6k - update

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hey everyone, this is an update to my downward wedge chart. I added a resistance line in the middle.

It looks like we are going down to 6K. There is a bull flag below the middle resistance line, which will likely fail and break downwards due to the intersecting resistance lines (horizontal + middle green resistance) and if we do break to the upside we will definitely not break out of the downwards wedge again due to intersecting resistance lines (horizontal + top resistance of downward wedge )

Ultimately I see us trading side/down to 6K so be ready to buy more!

This is not financial advice. I am usually always wrong. Do your own research and form your own opinions.

~ LeshaCat / EasyX Community Admin
Dec 22
Comment: It looks like I was wrong and we did break above the new middle line. Now we have to break above the upper resistance line, or break back down below the middle resistance line again.

Be ready to buy if BTC dips again.

~ LeshaCat / EasyX Community Admin
Dec 23
Comment: Unless we get an unexpected huge momentous move to the upside, we should rebound off the top of the channel and head back towards 6K again.

I will be shorting / selling into stable coin from the top in case we do head back downwards so I can rebuy lower.

I suspect over Christmas we will get a dip, but this is just a gut feeling.

~ LeshaCat / EasyX Community Admin
Dec 30
Comment: Ok we have completed a bearish H&S pattern which means we are going down again.

I have stable coined about $400 of my BTC to hold for lower prices. Downward price target from others is $6,400 USD

You should consider the same. Not financial advice.
Jan 02
Comment: VINDICATED!

BTC tanked to the middle support line in the downward wedge, and I see us breaking through it and heading towards 6K.

Be ready to buy more BTC and/or exit your short positions, it will touch down fast and bounce off the bottom trend line!

~ MooCat / EasyX Community Admin

Comments

VINDICATED!

BTC tanked to the middle support line in the downward wedge, and I see us breaking through it and heading towards 6K.

Be ready to buy more BTC and/or exit your short positions, it will touch down fast and bounce off the bottom trend line!

~ MooCat / EasyX Community Admin
Reply
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