BTC volume has still not broken the bearish trendline. I am looking for further downward pressure and a long wick reaching levels of ~50k. This is where I will open my next long position.
FYI: Price ranges and parallel channel based on closing prices (bar chart) for more accurate values, thus why i am waiting for long wick to knock out stop losses. Only then do I believe we will have enough bullish momentum to take us to the next level.
People are saying it will hit around 62k first before the move down
HODLtheSqueeze
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@Lebron1991, Yes i would not be surprised if this happens also. In that chart above I have that potential range outlined
Lebron1991
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@HODLtheSqueeze, the buying volume seems to be dropping?.we haven't even gotten to 59k but buying is slowing I think. Maybe you are right?
HODLtheSqueeze
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@Lebron1991, time will tell. I definitely would not enter any swing positions right now, unless you see something i don't. I would only do very short scalps if anything. In my opinion, it will touch ~60,600 before falling back down. I think this weekend and Thanksgiving holiday will be particularly volatile, leading to a nice price for smart money to enter the market on Monday/Tuesday - pushing us into a strong December candle.
trytofeelpositive
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agree with ur chart mate we are still bullish share my idea with u