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Bitcoin
Short

Critical Inflection Point

By TAKing
Updated
  • Sitting below 200 EMA
  • Strong support at .618 retracement


Not a trading advice. Do your own due diligence.
Note
Selling momentum started at the decisive breakdown of the wedge point at the long term down trend line. Selling intensified with negative news and eventually penetrated the 200 EMA. At .618 retracement, BTC found some support. There is a major battle between the bulls and the bears at the inflection point I noted. Ultimately, I believe the bears will win and drive this down to upper 6k.
Note
Look at the perfect lines. Only one like? Being short is a lonely planet. lol
Trade closed: target reached
Chart Patterns
TAKing

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