I posted this in BTC\USDT as well Bitcoin is curving down in another great big weird curving pattern.. And literally the only conclusion i can draw from this is that BTC has more room to go down like 1,000$-2,000$ soon.. But what else can we figure from this? Will it break out to the upside eventually because it's kinda wedging and making a falling wedge like pattern? will it go down in that tunnel all the way to 4k? Share your thoughts in the comments below!
I think 7500 is gonna be a strong support I think we have to go down.
The Tradingview indicators show it's in the sell zone.
chartingman43
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Interesting analysis. The curve analysis is good but I will point that its highly likely we won't go to 4k quickly, it will take months to go as the new bull market will turn to a bear market. I have a feeling like you we already achieved our ath for 2019 and feel more isn't likely because retail interest is not there, mainly big whales and institutions for this run. By the way how do you draw the curve on the chart?
rockygill
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lol wot... please evaluate yourself
senyor
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beautiful arc.... 8150 and 7500 looks like a good resting area
mike73234
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Yeah, many declared the bounce bulish, and I did not even see a decent retest,
Pmsl! Pahahaha. Well done though for inventing the soon to be wellknown 'weird curving pattern'. I'll start looking for the inverse weird curving pattern for my next trade. lol.
nagihatoum
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i think it will break out upward. but good spot. very intresting.
The Tradingview indicators show it's in the sell zone.