This is why I'm short till further notice in the mid term.
Looks like we failed to break resistance and retest 8k5 and now it looks like support is failing rapidly at 8k. If we go test 7k5 and that fails, then I'd say it might be a one way trip to test $6500.
If our major support @$8k5 BITMEX:XBTM18 fails we could be on our way back to early 2017 levels.
So yeah.. This breakout looks like it will be denied. I'm still ready for the possibility, but this scenario, if resistance is too strong at $9,450... Extreme target of 6k5. Don't get shaken out if you're crazy enough to go for it...
Bring it btc.. I'm back and I learned my lesson last time.
Possible double bottom. So I guess up?
Volume is starting to ramp up again.... Might not get the 9k5 target in the end.. :/
Disclaimer: ___________________________________________________________________ Let me start with saying that I am a nobody. Highschool dropout. Worked maybe 3 years out of my now mid adult life. Spent to much time online. Mental health issues. I don't trust me. So you shouldn't either. With that...
Is there a chance we touch 10k as a short term target? Let's find out.
Is our next target $8,000? We shall find out soon...
I'm seeing a very clear and repeating pattern here. It's not unlikely we test 10k first, but there's my new target.
I'm just gonna say straight out, this is an opinion. I don't know. No one does in this market.. But.. I'd like to put out the idea that we're gonna bounce from $8500 up to $9500 before this bearish trend continues it's journey to sub 6k
I'm still waiting on my primary long term signals/indicators, whatever you want to call them, to tell me it's safe to go long once more.
The support just isn't there.. Looks like 10k is basically confirmed now :/
We have found a great deal of resistance a number of times now at $11,700 and everyone is on the fence about deepening any more positions regardless of been long or short. The trading range feels like it should be playing between $11,700 - $8300. Transaction volume is at a 2 year low. Won't take much to pull the carpet from under btc's feet. Target 10k and I'll...