BTC CHANNEL Here is a BTC channel leading to a double-bottom on the $6500 level.
Who knows?
Good luck!
6500
$6550 bottom in 3 days, then reversal - 5 month vs 5 year trendI have been posting these trend for a while now, we see an evident descending channel ever since $14k. The recent bounce firmly rejected 8k as resistance and then again was smacked down under even lower channel resistance and is primed to fall to ~$6550 bottom of channel over the next 3 days. In the event BTC falls to bottom of channel to bring this intersection into play within the next 3 days, $6550 is lowest we could see where as if BTC can stay off the bottom of channel the intersection may come later with a higher low. Of course with any surge in buying/selling there could be a brief run below support.
In this chart, it is easy to see the 5 month descending channel and the 5 year ascending trend line are on path to collide soon, only one of those trends will hold. To me it makes much more sense that the 5 year trend will hold over the 5 month trend. We saw this on the crash from 21k as well where the (now) 5 year trend line held strong. I believe that we are about to see bottom and begin our ascent and break out from this 5 month descending channel of sadness. This that 5 year trend line holds, this will be bottom of market and the best possible entry point.
In the event we break below the 5 year trend and turn it to resistance, I will post another analysis identifying potential downside but it wont be pretty at all. There is absolutely no reason for the 5 year trend not to hold, BTC and crypto have only gotten stronger since the last time this trend line was tested. The reversal is coming and I suspect my next post will be about validating the reversal.
There is also a chance that we never test the 5 year trend and start the reversal from here and though possible, it seems improbable.
Dont take my word for it, DYOR!
BTC/USD highly anticipated short.CME pump is over, media cooling off, testing new height. high risk and possibly high reward. To be safe, go short.
Btc charts have strong relationships with other cryptos check eth charts for comparison.
BTC/USD the future is clear.Based on the history of bitcoin after negative news btc always drops to consolidated value. It's no different with the segwitx2 cancellation, it's just this time the consolidation has past it's initial low point and is now moving towards the second phase. There seems to be a nice upward triangle wedge every time after initial low. And the total recovery time from previous high takes around a month or so. Be on the lookout for a short to 6500 and ATH close to new years.
BTC/USDT : Short in short term, Long in midterm then Short to 5kI wrote for only myself. It's too hard happens
Archive,
When everyone thinks that the BTC increases to 7900 and then adjusts to 6500 and then down to 5000 then the Whale could do the opposite.
Today, November 9, 17, try a different thought.
Archive,
BTC will drop to 6500, right but it will rise to over 8000 level, will cross the old peak.
The fish are now afraid to miss the boat up $ 10 000 of the BTC suddenly to 8400, whales and sharks will simultaneously discharge to 6800
Next, the whale cut off the flood, the BTC back up to 7760 and then began to drop. This time, it gradually dropped to 7000 and dropped to 5000.
Archive,
The storm will begin on Dec. 1 and end before Christmas, possibly December 20
If this idea may help you, please donate BTC to me and I'll write more and more.
Thanks
My BTC address: 1HwdmWNWY26yk2giSY5DVTcNTvdgEUF3SJ
