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 :
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/
www.forexpeacearmy.com/r/author/11/sive-morten-blog
FX, GOLD:
www.forexpeacearmy.com/community/forums/sive-morten-currencies-and-gold-video-analysis.122/