BTC/USD to test support at 6k
Updated
BTC/USD on 3hr chart.
We've seen lower highs on days 02/10 and 02/12 trying to break 9k resistence and failing it. I think it is going to fail one last time tomorrow (02/14) at 8.8-8.9k and go back down to test support at 6k. The support trend line broken yesterday was another sign of bears taking control and if it fails to break 9k resistence this last time, we won't have our support from last couple times, meaning the bulls are again exhausted.
I do think BTC has enough power to break some trends and skip one last dip so I'll be watching if it breaks 9-9.5k resistence which would mean we broke a very hard resistence and probrably getting into a bull market again, to test resistence at 11-12k. (But at the moment I think there are more chances of testing 6k and skipping 4-5k dip than going up right now, since we haven't seen any confirmation of the bullish signs meaning it's probably another bull trap).
I'm an amateur day trader and I wouldn't place my odds with my analysys (in reality I indeed never short BTC, only looking for the right time to buy more). Just sharing my thoughts.
We've seen lower highs on days 02/10 and 02/12 trying to break 9k resistence and failing it. I think it is going to fail one last time tomorrow (02/14) at 8.8-8.9k and go back down to test support at 6k. The support trend line broken yesterday was another sign of bears taking control and if it fails to break 9k resistence this last time, we won't have our support from last couple times, meaning the bulls are again exhausted.
I do think BTC has enough power to break some trends and skip one last dip so I'll be watching if it breaks 9-9.5k resistence which would mean we broke a very hard resistence and probrably getting into a bull market again, to test resistence at 11-12k. (But at the moment I think there are more chances of testing 6k and skipping 4-5k dip than going up right now, since we haven't seen any confirmation of the bullish signs meaning it's probably another bull trap).
I'm an amateur day trader and I wouldn't place my odds with my analysys (in reality I indeed never short BTC, only looking for the right time to buy more). Just sharing my thoughts.
Note
9k resistance was broken with a very high volume candle and I'm very happy to know I was wrong hehe I'm starting to trully believe we are heading to a short/mid/long term bull market but still it needs to close the next hours above 9k or break 9.5k
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