A few factors make for a heightened chance for an even lower price for BTC from here.
First off the downward trend we though had been broken was most likely a false breakout. The daily candlestick made a decisive close underneath it. Not to mention that the price is currently consolidating underneath short term support forming a possible double top after the inverse head and shoulders was refused.
Finally there is the candle stick pattern that consists of the 3 big red candles after the doji top.
The odds of this downtrend continuing are quite high so looking to short here.
First off the downward trend we though had been broken was most likely a false breakout. The daily candlestick made a decisive close underneath it. Not to mention that the price is currently consolidating underneath short term support forming a possible double top after the inverse head and shoulders was refused.
Finally there is the candle stick pattern that consists of the 3 big red candles after the doji top.
The odds of this downtrend continuing are quite high so looking to short here.
Comment:
just as i thought, the fractal completed and completely dumped right after. this could go really low. Maybe back to test 6k in the coming days
Comment:
possible head and shoulders fractal in 5 minute chart. along with bear flag. good chance of going further down