BEAR CONFIRMATION: The moment of truth for BITCOIN
As of now we have confirmed the BEAR trend. Unfortunately this means we will most likely continue down the yellow channel. Notice that in the candle that broke the green line we saw a very sharp sell off. This means this was a key resistance and "opened the floodgates" afterwards.
notice: my probabilities are not calculated just an estimation of current market scenarios
The green area (25% chance): If we can somehow get a strong reversal we will likely break this yellow channel and continue on a greater bull run
The red area (75% chance): This looks the more probable. We will most likely continue down the channel and ultimately completing our A-B-C correction. This means price will likely reach lower than 7000
ABC correction:
http://www.forexabode.com/images/forex-school/flat%20corrective%20waves.png
**this is not financial advise
notice: my probabilities are not calculated just an estimation of current market scenarios
The green area (25% chance): If we can somehow get a strong reversal we will likely break this yellow channel and continue on a greater bull run
The red area (75% chance): This looks the more probable. We will most likely continue down the channel and ultimately completing our A-B-C correction. This means price will likely reach lower than 7000
ABC correction:
http://www.forexabode.com/images/forex-school/flat%20corrective%20waves.png
**this is not financial advise
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