BTC continues to move in a sideways fashion. Yesterday we tried to break the 6800 resistance again - only to find ourselves this morning in the 6300 range.
The pattern that has emerged is called a double bottom. This means we are going to likely experience a reversal in short time and again test the 6800 level of resistance.
With weekend trading upon us - we are once again playing in the 6000s going into the weekend. 6800 keeps getting rejected - but perhaps we are in the final dip before the climb.
Everything indicates another build up to 6800 . Lets hope that the weekend crowd is able to get us through the 6800 threshhold if not the 7200. I know some patience is wearing thin!
The pattern that has emerged is called a double bottom. This means we are going to likely experience a reversal in short time and again test the 6800 level of resistance.
With weekend trading upon us - we are once again playing in the 6000s going into the weekend. 6800 keeps getting rejected - but perhaps we are in the final dip before the climb.
Everything indicates another build up to 6800 . Lets hope that the weekend crowd is able to get us through the 6800 threshhold if not the 7200. I know some patience is wearing thin!
Comment:
It looks like the double bottom might be a little deeper than I thought.. It looks like it will match up with the bottom on the left side of the pattern closer to 6200.. If we dip below 6k - get ready to buy. Regardless we will test 6800 again and move on up to 7200.
Comment:
That bottom obviously kept falling.. It will be interesting to see how the next day plays out. There are a few prices we could be retracing.. I could see a scenario in the 5800s but im not going to sell any coins to short.. At this point i'm buying every $100 it drops.. if your in it for the long haul and this makes you nervous - take a break for a few months - we've seen this show before..