BTC has now moved under the 100 (purple) and is moving away from it. The bears are still in control and the price is nowhere to be seen at the upper side of the (upper red dashed line)
Instead the price is now moving to the lower wedgeline and it might break through (The and indicators are pointing downwards)
If it falls below the triangle the next stop will be the 0.786 Fib retracement. (The green area is a good opportunity to buy.)
From there on out you have to watch closely:
- If the price bounces up it will retest the black extend line of the . (more likely)
- If it breaks through that the next stop where the ceiling is. (likely)
- If it breaks through that and out of the Red , then the downtrend is over (highly unlikely)
- If the 0.786 Fib retracement doesn't hold then we will fall down to the blue Critical support line.
- From there on out it should be a sideways market until we break out of the . (more likely)
If it falls under the blue critical support line it's pretty much over.
might also be a squeeze, but I don't want to risk it
Go look at a 25 year chart for apple, or the dow or even microsoft - if blockchain tech has a future so does bitcoin?
Bitcoin was $1000 exactly one year ago - any investment thinking person would say even $1250 today is pretty good - 25% annualized.
How can u say it is over?