Bitcoin pattern giving clues about next leg down
Keeping it simple and using 4h chart for better visibility. I can see a pattern here with a clear trendline connecting lower highs pushing BTC lower. The next move is based on that trendline and on the previous low that has been tested on the 26th and 30th of September and 7th of October. The percentage drop to reach previous low of ~7710 is also in line with previous drops. It's an opportunity to go short but what happens when we reach 7700 area will dictate further strategy.
Not a financial advice.
Not a financial advice.
Disclaimer
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.