BTC downtrend scenario
Updated
Hi,
I'm sharing my scenario, I'm not a pro, and I have really few knowledges in TA. Don't expect to much. Normally I'm working with fundamentals, but they are not really applying in this market.
I'm thinking BTC will continue to follow the downtrend channel (black), until we cross the uptrend channel (orange). Every time, we got un bullish scenario, we failed in the resistance zone. We have failed so hard at 9100$ this week.
This week goldbug1 has wrote : We must be patient and let the market come to us not try and force a trade here anticipating we move higher.
I will be patient.
Comments are welcome.
I'm sharing my scenario, I'm not a pro, and I have really few knowledges in TA. Don't expect to much. Normally I'm working with fundamentals, but they are not really applying in this market.
I'm thinking BTC will continue to follow the downtrend channel (black), until we cross the uptrend channel (orange). Every time, we got un bullish scenario, we failed in the resistance zone. We have failed so hard at 9100$ this week.
This week goldbug1 has wrote : We must be patient and let the market come to us not try and force a trade here anticipating we move higher.
I will be patient.
Comments are welcome.
Note
7900 - 8000$ seems to be a good resistance zone at the moment.
Daily volume is decreasing, but I don't think we are consolidating for a bullish patern.
If we test the 8200$ and go for a breakout it could be a really good signal (more a dream at this time)
I'm thinking we will test the 7600 first, and then we will see.
Like many of us I'm all in cash, I'm a looking for strong signal to re-enter in this market.
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