At 12 hours, 1 day and 3 day time frame chart BTC is still bearish. This means there is a negative technical background for further price movement in the short medium and long term. It is a pretty good time to open short positions
In the previous analysis we said "We expect the price will slowly touch $2 800 level where lateral trend will replace the downtrend. Within next months there will be a bounce which will start a new growth wave and the price should quickly go back to the Fib 0.786 around $6 571"
Then happened a decrease and short term bounce. Currently we see that the market will easily touch $3 000 level and then crash to the Fib 1 level around $2 800.
We recommend to close all your in-profit positions and hold the coins which are below buying zone. Soon there should be a bounce as usual and you will sell them at the breakeven point.
In the previous analysis we said "We expect the price will slowly touch $2 800 level where lateral trend will replace the downtrend. Within next months there will be a bounce which will start a new growth wave and the price should quickly go back to the Fib 0.786 around $6 571"
Then happened a decrease and short term bounce. Currently we see that the market will easily touch $3 000 level and then crash to the Fib 1 level around $2 800.
We recommend to close all your in-profit positions and hold the coins which are below buying zone. Soon there should be a bounce as usual and you will sell them at the breakeven point.
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