Bitcoin broke down an ascending wedge, was rejected a third time of the log downtrend line, and it did not break up the previous high going to the bottom of a channel and then breaking it down hard going down to the 9k area, also it closed below the 50 Moving Average.
If BTC does not break down 9k and breaks up the downtrend line, I will be bullish.
If BTC breaks down 9k, I will be bearish, because in my opinion it will most likely go down further to 3k and possible 1.5k late 2018/early 2019.
Note
Still neutral, everything depends on which trendline is broken first.Note
TD sequantial shows a 9 and the past 9 days have been bearish so expect a daily dead cat, afterwards, I expect lower lows in the long run (bearish 2018).Note
BTC will have a dead cat next week. I expect a higher low than the one in feb 6, keep the eyes open and listen/read what's going on with the G20 tomorrow.Note
Last sunday the optimism about G20 triggered the bounce at 0.786, and BTC retraced to 0.5. Today's close will tell us what's going to happen next week, imo. If it closes below previous daily candle low I anticipate that next week is going to be very bearish. Also I see a possible Inverse C&H one straight and one with an angle. Trade closed manually
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.