Spotted an ICT model, this could very well support claims for btc going down all the way.
Although I have quit trading bitcoin, I thought it would be fun to examine the chart. Since btc has broken the level of 286 (shortterm support) a break of marketstructure occured, btc will now try finding some support which will most likely be found in the 274-271 area. \\ I have layed out 2 possibilities. possibility 1: If btc price bounces at this level, we...
In the next few days btc will have the opportunity to initate a reversal from last week's downtrend. However, I do think that we will reach the 272-265 area prior to reversal. It's also possible for prices to go a tiny bit lower into the 265-262 area to fuck around with stops, it's in that area where it's most likely for a reveral to form. A run to 300+ might then...
As I described in my previous publification, the price would go down due to encountering historical resistance. Now it looks like price has found support at a previous support level, as long as this support level stays we will be in an uptrend. So I wouldn't be surprised if we would end up re-testing 300+
Btc looks to be topping out around previous resistance, am waiting for a failure swing to confirm reversal.
Stop raid occured to clear the way for a further downtrend.
this is a critical moment as we are touching the bullish trendline from 240
I am thinking that we will start going up soon due to tight bollingers, a bullish pennant and the breaking of the 2014 downtrend.