Let’s look at it:
1) Now, BTC is heading EMA200 and EMA21 . So EMA200 is stronger than EMA21 and i suppose to EMA200 will win and reflect BTC below $7200. In 3 attempts of 4 BTC faild and BTC was reflected down.
2) In my opinion - BTC have allready finished Correction Wave ( ) and now continues forming Impulse Wave (12345) which will dropdown the BTC’s price again below $7000 or deeper.
If I am right We will se price $6000 soon.
3) To make my TA clearer, so I have not drawn there two important formations “long trend descending triangle” and “local trend . I'm curious about which pattern win and i bet “Descending Triangle”, , pattern will win and reflect BTC near price $6000.
Last point … We still in a downtrend until higher high is created = price above $11000.But that does not mean that BTC will not grow.
1) Conservative Traders:
- Buy $9600
- Sell: $1100 or higher
- Stoploss: $8500
2) Risky Traders:
- Buy: at current price
- Sell: $9600/$10450/$11000
- Stoploss: $7200
- Trading channel $8200 - $9600
- Stoploss: $8000
Always use stoploss and follow your money management. Good Luck!
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