However, you need to stop using BITFINEX price chart because it's being manipulated by sell-off of USDT. BTCUSDT now trading at an average 4.8% premium over true BTCUSD (see untether.space/ for live tracking)...
In short BTC is NOT at $6730 at present, but rather around $6450 (at the time of this comment)
Hello!
After the rally in Bitfinex, the price is on the ranging mode and it waiting for the direction.
Currently, it has formed a Triangle, three times rejected from triangle upper line and three times rejected from the triangle bottom line. This was the symmetrical triangle but if we don't count those bottom wicks then we get a bearish pattern called "Descending Triangle"....
All the best!
UmairEjaz
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I completely agree on a shorterm we would dump and retest 6.6k
However, you need to stop using BITFINEX price chart because it's being manipulated by sell-off of USDT. BTCUSDT now trading at an average 4.8% premium over true BTCUSD (see untether.space/ for live tracking)...
In short BTC is NOT at $6730 at present, but rather around $6450 (at the time of this comment)
Hope this helps,
TradeHappyKyle