BTC. Wery important zone!

After BTC broke $ 5,000 in September 2017, buyers arranged support that I noticed on the yellow channel. This support has withstood 4 seller`s attacks, and then broke it down. Another figure formed - a triangle, which often breaks down. The bottom of this triangle is $ 5,500. Though we have not reached this price - while we do not test 5500 $ - below BTC will not go.
Now buyers are trying to change the falling trend. We stumbled into an important zone where the price range of 8300-8500 intersects; former customer support and high trend line of triangle.
Margin Longs seriously began to close.
Global target $ 5500. If buyers do not hold $ 5500 - I'll wait $ 4,300.
Only after breaking through this zone I will predict the growth targets.

Comment:

During this growth, people come out of marginal longs...

Comment:

Sellers kept the price range of 8300-8500 - tried to change the situation. The price stopped on the blue line trend line in which the moon rushed (www.tradingview.com/...-s-Formation-part-2/)
It is now too early to predict the direction of the price movement. I'm waiting for the 8100-8200 test to see if buyers will continue to grow. But globally i`m waiting for a fall.

Comment:

Hello! The BTC is traded between two trend lines. The first line is the trend line of the red triangle. The second training line is the blue channel. Yesterday there was an attempt by sellers to overthrow BTC, but buyers repulsed the attack. But now the advantage of the sellers. 8150-8220 is a strong price zone and the price is underneath it now. I am counting on the fall.

Comment:

BTC came to the first target according to my idea, again returned to the blue channel. Now the price is traded on the bottom of the trend line of the blue channel. The next target is 6800. A possible test is $ 8000 before continuing the fall.

Comment:

Hello!) BTC broke the yellow channel down. This channel is the global defense of sellers against the up trend. Now consolidation is under the bottom line of the yellow channel. I am waiting for a breakthrough 7300-7360. If the price goes below 7300-7360 the next stop is 6800. This will be a steep fall. So far, buyers do not show enough strength.
if someone is looking at my ideas, please respond somehow) in the last 2 weeks I have a feeling that I'm trading alone))

Comment:

buyers kept the price range of 7300-7400, which I wrote yesterday. To continue falling, sellers should not have a price above 7580.

Comment:

Hello! Glad to write again here) After the sellers broke 7300 - the price of a confident candle went up to 7000. The candle closed at the bottom almost without a hairpin. Sellers do not let the price even up to 7300. After such a sure and strong downward movement, consolidation should also shoot down. Strong support will be at 6800-6600.
If you look globally at BTC, the weekly candle closed with the big advantage of the sellers. Therefore, I expect a further fall.

Comment:

BTC for the first time broke the zone 6800-6600. Buyers could not even raise the price to 7300-7400 for the test. It's about the weakness of buyers and I will not count on the strong movement of the BTC up. Now the market will be consolidation, for the restoration of forces. 6300-6400 is a price zone that has stopped falling. But the main volume is in the zone 6470-6510.

possible test $ 6800. If sellers keep that price - I'll wait 6150 locally - globally 5,500.

Comment:

very quickly the price came to the target of 6150. Not expecting such a panic movement without recall. On the chart of marginal shorts it is clear that many fell into this position on this fall.

And on their stop loss the market can fly up. Since we are now not in a trendmode movement but in a global consolidation, there are all the chances for this. Keep track of the level of 6500 If sellers do not hold it - buyers have every chance to claim 6900-7000.
Redraw the price zones, because after the fall of the placement of liquidity has changed

Comment:

Yesterday buyers broke the price zone 6400-6500, but could not hold it. Today, sellers tried to update the minimum, but they did not have enough power. Pay attention to what volumes were when we saw 6150 and what volumes were today. At the moment, buyers reliably hold the price and show strength. After breaking through the 6500 critical point will be 6900-7000 $. From there must continue to fall. Let's see how the price will reach this price zone.

Comment:

Hello! Congratulations on the beginning of the week) Buyers did not take the chance to break through and fix above the price zone of 6400 - 6500 $ and protest 6900. The initiative was taken by sellers. However, in the price zone 6070-6125 $ buyers kept the price and now the fourth attack is 6500. If buyers try 6500 - 6600 and the upper trend line of the falling channel - I expect $ 6900. Everything looks for a local turn and continuation of consolidation in a triangle. Now is a risky point. need to wait.

Comment:

The BTC moves below the falling channel (I slightly reminiscent of the channel). it's more like a falling consolidation. after each large volume of sallers, the price goes up to 6500. Tradition or coincidence? I'm waiting for the closure of a 12-hour candle.

Comment:

consolidation continues. The tradition of testing the price zone of 6400-6500 remained). If sellers keep this price zone - the consolidation will continue and we will go down. as I have more chances to continue consolidation.