If we break below the neckline, expect a dive down.
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RIP
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You may consider a long entry, but please be very cautious. we're bullish in that we're holding above the major resistance (now acting as support), but we're bearish in that we're so close to the previous high of 6600. I would not press your luck much higher than 6900, assuming the impulse last night was our 1 wave.
BTC dropped to $6100 which is within $300 of your $5800 target. Maybe we have seen the bottom
NickPadovani
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@Msparky, For what it's worth, I took a re-entry with a tight stop loss once we approached the top of that red zone. I don't believe it's the bottom, but I'm willing to risk a trade now for the potential of a run up to 6900. IF you're in this trade, just make sure your stop-loss is good, and absolutely take profits no higher than 6900.