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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Could be the start of a reversal back up, to test the upper overall trend line
Thanks. Please keep us updated as to your opinions, thoughts, news, etc...
nickhalden1
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Really nice idea and comment, bro! I also really liked Dude's idea on Bitcoin today. You should check it out and see what you think!
Blockshame
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@NickHalden, what a loser you are! posting this shit on every other TA, with the absolutely same sentece. Seems like you have some Long Positions running hahaha
DASHisKINGAugust18BEYOND
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Do you mean the upper overall trend line on your chart that is at about 6600? Thanks again.
DASHisKINGAugust18BEYOND
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@cryptonekoz , Do you mean the upper overall trend line on your chart that is at about 6600? (just asked again cause i wasn't sure if you would see the question...)