KryptonuQ
Short

QUAD BOTTOM - STILL BEARISH

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi guys!

As you can see my chart we touched the 7.4K-7.5K range 4 times! You might think that the more time we test a price level, the stronger is becomes, as a support. However the opposite is true. The more time we test a level the higher the chance we gonna break it.

We also made a lower low on the 4H chart, creating a double top formation. Both tops are on the 0.382 fibb level which is acting as a strong resistance.

***It is not a financial advice, it is only my own opinion***

If you liked the analysis please leave a like, and if you have any questions comment below!
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