Bitcoin ( BTCUSD ) printed a full candle to break below $8,000, reaching a low at $7394. Now, this candle is still active today so the next move really depends on the daily candle close since we are looking at this timeframe.
We are likely to see additional action before Bitcoin bounces and starts to move up.
The low can be set late Nov. or early Dec. with the goal of reaching $10,000+ after Bitcoin bounces and starts to move back up.
This is just one scenario, my main view at the moment... Additional details can be found on the chart.
Thanks a lot for reading and for your continued support.
I've seen something similar happen...
Personally I think the downtrend will continue for Mid Term. Heikin-Ashi chart type confirms that we have a deal with a downtrend, which is one more bearish sign. Also in my previous idea I said that downtrend was confirmed. There are a lot of bearish signs.
Would be great to hear your opinion on this