As you can see in the BTC/USDT weekly chart, BTC has been trading in a channel and is about to touch the lower band of this channel.
Due to the selling pressure, I expect the price to wick below the channel briefly with target of 14.5k-12.5k
If the week closed below the Fib level (0.236) then we might be spending some time below the 18k level.
But I guess that once the BTC price goes below 17, there will be a lot of sell orders so the price will fall quickly to find a lot of buy orders at 12.5k-14.5k and then we'll see a big bullish wick.
Check my other ideas, they are all playing out perfectly .. even this drop was called for couple of weeks ago :)
Simple is beautiful, less is more !
Due to the selling pressure, I expect the price to wick below the channel briefly with target of 14.5k-12.5k
If the week closed below the Fib level (0.236) then we might be spending some time below the 18k level.
But I guess that once the BTC price goes below 17, there will be a lot of sell orders so the price will fall quickly to find a lot of buy orders at 12.5k-14.5k and then we'll see a big bullish wick.
Check my other ideas, they are all playing out perfectly .. even this drop was called for couple of weeks ago :)
Simple is beautiful, less is more !
