Bitcoin back to trend-line
Bitcoin most likely will continue its decent to the trend-line around 7.1K to 6.9K.
The green horizontal line highlights a rather strong support/resistance range from the past, thus, we may see a small bounce around the 7.5k - 7.4k range. However, this bounce may not pass the resistance highlighted in blue, and should not be strong enough to break out the triangle.
After validating the trend-line for a fourth time, we can see another small bull run to re-test the top of the triangle around the 8.9K range.
Not many ideas seem to be getting a birds eye view on Bitcoin and assessing the entire chart as a whole, thus disregarding that Bitcoin is making its way to the hypothenuse of its triangle.
We will most likely be seeing higher lows and lower highs(a good thing) I'll continue to post my thoughts & ideas till its (Hopefully bullish)departure from the triangle in the coming months.
Thanks for reading & Happy trading!
P.S Always do stop losses, never invest more than you can afford to lose, never bet against the trend it's best to bet after a reversal, and nothing of the above is professional trading/financial advice.. Cheers!
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