BTC is in a descending triangle pattern. Expect some wild moves but price will continue falling in coming months with BTC posting lower highs. Weekly levels in Silver and Daily levels are marked in Blue (A bit over done on levels though with one monthly level marked in red).
On a weekly level, we can see 10K is the local top now. Using BB and classical triangle/wedge we can see mean reversion happening towards multiple time frames. Right side of the triangle is acting as a virtual resistance/support indicating a slow painful bleeding pattern ahead in coming 2 months. Be careful of the scam wicks during this time period while BTC will...
Right now BTC is in accumulation Will range bound as defined by the wedge and CCI indicates that both upside and downside moves will happen within next 24 hours in a range from 8100 to 8800. SHORTS can be closed at 8300 followed by new LONGs with TP at 8800. Rinse and repeat with squeezing range bound motion until breakout happens within 24-48 hrs. Its a risky...
With significant mass already shed (i.e. BB squeezed a lot) it has become a lot more probable now for BTC to once again cross 0.618 level and 100 WSMA (both around 7100) easily as well as sustain above it. Lets see where this rally ends before 8K until epic fall begins again till 200 WSMA.
