Bitcoin (BTCUSD) is now aiming lower with its next target being $7,700.
We have a setup where a potential bounce could have taken place but our beloved bulls are missing... One thing is clear now though, the falling wedge trendlines have been fully respected and with BTCUSD trading below EMA10, it is very likely that it can go lower.
All of the details are on the chart.
Conditions for change If the orange dashed line isn't broken and Bitcoin can move and close above EMA10, this setup becomes invalid and a new analysis is needed.
A very strong drop might follow next...
Leave a comment if you have any questions or have anything to share.
Namaste.
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THE HEART OF JESUS
Think of a moment, with a feeling that you have never experienced before.
Think of this moment, but, without the feeling, it is hard to know what is going on.
In this moment... You are...
You are yourself, you've accomplished all of your dreams, all of your wishes, all of your goals...
Now take a time out to breathe and relax, let this moment grow and evolve...
Now tell me about the feeling...
What was it?
Was it happiness?
Was it wealth?
Was it fulfillment... A mix of these, others or even more?
When we started... or even after the moment, we could not tell about the feeling... The feeling is felt but is hard to describe it in words.
Forget about sharing the details... Repeat the meditation... Again...
Next time you get to the part when you are feeling... And YES! ... You can feel it...
When you enter that moment just relax... Breath... And ENJOY!
Hi Alanmasters can you chart Stellar lumens? thinking of buying it. Only after a bit clarity after you chart it. Did not find any chart on xlm by you yet. THank You!!
Excellent spotting of the contracting wedge. It's nearly 2/3 of the way through which is key reversal zone territory. Those who enter long now must have deep pockets and wide stop-losses. Alternatively waiting may be an idea. However, sometimes the bus departs early. This is why ATR become important - as well as sound risk-tolerance.