CryptoMoe81
Short

BITCOIN (#BTC): So, Dropdown...As I predicted

BITTREX:BTCUSDT   Bitcoin / Tether
Let's take look at current #Bitcoin (#BTC) situation.

As was predicted yesterday, BTC is going down. You can see that a huge breakdown occured from the Bearish Pennant and price dropped to $7200. Right now BTC is testing strong S/RL located there. Next S/RL are $6950/6800/6650. Also, BTC's price is deeply below important trend lines - EMA200/100/50/21 and Kijun line. BTC has hard work ahead.

Very important is price at $6800, because bottom line of global uptrend is located there. It can be the first opportunity to bounce upwards.

In my opinion and in terms of the current price action, BTC is forming Elliot's 5th WAVE. Which confirms the continuation donwtrend. If BTC drop down below $6800, last Elliot's Wave will be confirmed. It means price $6000 or deeply below.

Significant Volume still not coming, MACD indicates bearish trend continuation.


Never invest all your BTC  in one or two coins. Diversify your balance with *1/10. Remember to set stop-loss 5% - 7% below of your entry point. Always set a stop-loss at entry point after the price increased. Always sell 30-50% of your investment and set a stop-loss at 5-10% below after reach first target.

I hope you enjoy my charts, please writte your comments, hit that like button or follow me. Thank you!
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