Return to Neckline 6k Support for BTC
In this graph we are comparing the TOTAL2 index and BTC in its first major dip and its return, likewise we can see we remain inside the bearish channel, yet we are due for a positive correction from inside. Looking at the bounce we see a return to the local mean; In the first instance it was 10K BTC. In the second instance it is 6K BTC.
Best course of action is the time to hold strong until we get to the neckline. Shorters are panicking, which is a good sign for BTC.
If you like this idea, please vote and let me know in the comments.
Best course of action is the time to hold strong until we get to the neckline. Shorters are panicking, which is a good sign for BTC.
If you like this idea, please vote and let me know in the comments.
Comment:
Expect significant chop between BTC 3750 - 4200. Best course of action is to wait for retrace on the 3800 line and sell the first big rally.
Comment:
Wanted to update we see BTC @ 4300 on Bitfinex and @4150 on Binance. I expect a chop retrace to BTC 3.9K again before quickly surging back up to 4200. Long if you can catch a good retrace.