BTCUSD #14 Bitcoin in a bear channel

Dear friends,

I apologise for being late with intraday forecasts. I now have a big move, and the next few days I won’t be able to write regularly.

評論:

On this occasion, I share with you a look at the next week, based on which trading within the day will be more meaningful.

As you can see in the chart above, the last strong impulse downwards was generally very expected. The only BUT, it happened a week earlier than my forecast (see the small green arrow). It was around the 28th day that Bitok had to reach the upper wall of the bear channel and meet the fierce pressure of the bears.

The goal for this strait was also quite expected - the trade channel - 7400 - 6200 USD.

The cue ball ran into its upper boundary. Therefore, I do not wait for the continuation of the sharp hike down.

評論:

Now the most expected behaviour of the BTCUSD market is the continuation of consolidation at the levels of 7300 - 7700 USD.
Probably provocative multidirectional impulses.

The nearest target for bears is 7000 USD
The bearish scenario cancellation threshold is high - 8800 USD.

Bears target
Good luck to everyone and good profits!
Respectfully,
Michael @Hyipov

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Thank you very much

Everyone GTI


Friends, I remind you that this is only my personal view of the market, which I share with you. I do not guarantee profits. Only you make the final decision and all the risks associated with it.