BTC decided the new midterm direction!
Hello guys,
Like I said in my last post on August 12 BTC could and porbably will retest 17k, we did and even more than that...
BTC has a 24h low of 15.5K which is showing us a new direction after a long consolidation phase.
We got extreme high selling volume which confirms the start of a new bearish trend.
Just now the US market pumped and BTC also had a good amount of increase in price, but we saw these kinds of patterns in the past.
BTC is just as I writing this post, retesting resistance and probably getting rejected, which would lead to a retest of our next support zone, which
you can see at around 14k.
You can definitely say that after retesting this support, the BTC bear market could end and a new upwards trend could begin.
Also a falling broadening wedge formed, which has a target of exactly 14k.
Good luck trading, Henrik
Like I said in my last post on August 12 BTC could and porbably will retest 17k, we did and even more than that...
BTC has a 24h low of 15.5K which is showing us a new direction after a long consolidation phase.
We got extreme high selling volume which confirms the start of a new bearish trend.
Just now the US market pumped and BTC also had a good amount of increase in price, but we saw these kinds of patterns in the past.
BTC is just as I writing this post, retesting resistance and probably getting rejected, which would lead to a retest of our next support zone, which
you can see at around 14k.
You can definitely say that after retesting this support, the BTC bear market could end and a new upwards trend could begin.
Also a falling broadening wedge formed, which has a target of exactly 14k.
Good luck trading, Henrik
Feragatname
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