If bulls can't make $XBT upwards from this range before, let's say, next week or so, then 9000-9400$ is likely to become the nextshort term support. Then, a bearish descending triangle will form or, more exactly, will be confirmed.
If so, further correction could lead to the 6600$ support of last year. To my opinion, both options are good. I have no bias here since I have no position at the moment. I could only say that a correction towards the now infamous the 6600$ support (for those who were trading last summer) would be an excellent thing to gather new investors. Bitcoin made the headlines during the bull run earlier this year and many retail investors will surely not miss this opportunity, if they failed to take it a few months ago. With some luck a return of the 6000$ range could happen around december, which would be an excellent timing.
new bull market begins.
$XBT #weekly
If so, further correction could lead to the 6600$ support of last year. To my opinion, both options are good. I have no bias here since I have no position at the moment. I could only say that a correction towards the now infamous the 6600$ support (for those who were trading last summer) would be an excellent thing to gather new investors. Bitcoin made the headlines during the bull run earlier this year and many retail investors will surely not miss this opportunity, if they failed to take it a few months ago. With some luck a return of the 6000$ range could happen around december, which would be an excellent timing.
new bull market begins.
$XBT #weekly
