Morning guys,
We keep our long-term bearish view on BTC and suggest that it should hit 6.4-7.2K area within few weeks.
In shorter term it seems that market is preparing to downside breakout. At least on daily chart we see flat channel, that mostly reminds a flag consolidation. No thrusting action.
It seems that downside breakout should happen sooner rather than later.
Inside the channel - BTC has failed to breakout our K-resistance area, forming bearish reversal session there. It means that short-term sentiment is bearish and market could reach lower border of
consolidation around 7.9K area. Downside action probably will take the shape of AB=CD pattern.
We keep our long-term bearish view on BTC and suggest that it should hit 6.4-7.2K area within few weeks.
In shorter term it seems that market is preparing to downside breakout. At least on daily chart we see flat channel, that mostly reminds a flag consolidation. No thrusting action.
It seems that downside breakout should happen sooner rather than later.
Inside the channel - BTC has failed to breakout our K-resistance area, forming bearish reversal session there. It means that short-term sentiment is bearish and market could reach lower border of
consolidation around 7.9K area. Downside action probably will take the shape of AB=CD pattern.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.
ForexPeaceArmy BTC analytics :
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
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.