- Just like last time, we've entered oversold on the . Each time Bitcoin’ hits this level, it bounces and starts to move up.
- June's low is working as support.
- Buy in range: $6200 - $6350 for long.
- LONG TERM Bitcoin trade:
- Next target: $6500 (short term) followed by $6800.
- Next support: $6300 followed by $6200.
- Thanks a lot for reading. More updates coming soon.
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Let me add that he conventional markets reached ALL TIME HIGH, and are crashing: stocks, indexes, etc. and cryptocurrency has reached some DEEP LOWs, it is starting to move up.
So let it drop some more, just make sure to buy up as much as you want.
TIME TO BUY BITCOIN AGAIN.
The chart is correct.
Thanks a lot.
Plus there is a possible inverted head and shoulders pattern but this is valid then when we get a candle close (at least 1h) around that green box!
Currently, the BITCOIN price is on the very important area, between the two counter-trendlines both of them are pulled from August 14. but they have a different count of touches:
- Orange has two touches and yesterday was the third touch, this is pulled from the wicks
- Gray has three touches and yesterday was the fourth and the key points are pulled from August 14 wick and 19. Sept. wick
After the last 4h candle close we got a perfect rejection from the green line! So, the first bearish sign has failed! Now we need the power to push it through the gray trendline and above of it. It's nice to see that the mentioned green line has held us at the moment, sweet!