BTC bull trend is over. Price will drop.
According to my analysis, bull trend is over and price will drop. You can either short BTC , or wait for a re-entry position for long.
Tom count gave a green 9 on the . This means bull trend is over. I expect up to 9 days of down trend starting from tomorrow. Which means we might have a down trend till 16th of November (Segwit2x hardfork date).
is overbought and price hit the upper , which confirm my time analysis.
Here is my forecast:
Price will drop to 0.5 fibonacci level 6800 and will rise from there.
6800 will not hold as it is not a strong and price will drop to 5725 major .
Worst Cast Scenario:
5725 will not hold and price will drop to 4765 - next strong .
I think Scenario 2 is more likely.
Here is the trading idea for shorters:
Short at: 7500
Take profit at: 6800
Stop loss: 7800