Alright wolves, we broke the fib support briefly but recovered quite fast, it seems to be holding up for now and we are forming a bear flag.
From here we will see some more sideways movement before breaking down to the 6400 long term wedge support (RSI and MACD both reading bear) We will then bounce up and test the descending triangle resistance once more at 6800-7000.
We will then wait for new data to analyse from there.
From here we will see some more sideways movement before breaking down to the 6400 long term wedge support (RSI and MACD both reading bear) We will then bounce up and test the descending triangle resistance once more at 6800-7000.
We will then wait for new data to analyse from there.
Trade active:
Short coming along nicely wolves, after a lengthy battle between bear and bull, the bears have come out on top with BTC -2.66% breaking down from the bear flag as predicted and now testing the 6550 support, going to move the stop loss up here and take some profit, next targets are 6400, 6250, 6000.
Comment:
Going as predicted here wolves, although we didn't quite reach the 6400 mark
