This is the bearish short term scenario for BTC. On the short BTC could see a low of 6050 with critical support being at 6100. The news in regards to SEC is as follows: The Securities and Exchange Commission announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) commencing at 5:30 pm EDT Sept. 9, 2018 and terminating at 11:59 pm EDT Sept. 20, 2018. This of course will be played out and made to look terrible.
Note: My long term bearish scenario is still in play. You can find it below.
- Pattern shows what looks to be a falling wedge
- Critical supports still stand at 6100 and 5800s
- Intermediate support of 6400 fell through.
- RSI is turning back down with slope trajectory failing to play out
- MACD histogram is shortening showing weakness in bullish momentum
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***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Note: My long term bearish scenario is still in play. You can find it below.
- Pattern shows what looks to be a falling wedge
- Critical supports still stand at 6100 and 5800s
- Intermediate support of 6400 fell through.
- RSI is turning back down with slope trajectory failing to play out
- MACD histogram is shortening showing weakness in bullish momentum
Trading View Disclaimer:
***Any information represented here is my opinion only and not intended to be used for financial gain. None of the information posted here is to be considered financial advice. Information posted here is strictly for entertainment purposes only. Please consult your financial professional before making any kind of investment. Investments can be very risky and any investor should educate themselves before investing by enlisting the help of a licensed financial professional. Past results are not indicative of future results in any construable way.***
Comment:
Could be the start of a reversal back up, to test the upper overall trend line