BTC is in a bad shape, broke the 3 month diagonal trendline and closed below it, this is very bearish and if support at 8500 is lost than it might free fall. Now price lies in the exact same zone prior to last March capitulation. Maybe one more bounce before final dump. However there remains the chance of whales manipulation for a stop hunt to 10.5k, stopping out the shorts before the big dump. The month will end in dramatic moves.
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can still go up
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retested 3 month trendline, did not break above it.
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10.5k liquidity hunt now looks probable. Broke back above the the 3 month trendline.
Basically i see the exact same scenario, albeit i think support within 8400/8500$ area. Under that support there's a high risk of a Chuvashow fork (see light blue), Double top confirmation and Lower low.
In the meantime let's look at that rising trendline for support.
If that fails ... it will get ugly.
nagihatoum
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@ft-73, nice way of looking at it, thanks for posting it here.
Blockshame
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if we break up to 10k area, i think the bull run will not stop untill 13k. But for me i think we will see 6500-6800. We also would make a big H&S then, so its very possible.