Bitcoin price projection based on bear flag/channel breakdown
Based on the bear break continuation from this ascending channel,
the projected price movement is to 6856-ish. This would bring the 1D to the oversold on the RSI. Previously seen on Sept 14th and Feb 5th crashes.
Remember that we have fibs at the 7600 and 7200 level. We bounced off the 7600 last night. The same level as our 2nd lowest daily candle close this year.
Let's see what happens in the coming days. I'm bearish still... but I always leave room for the bulls to come in and change my mind.
... as of now, with a very tight trailing stop-loss. :)
Happy Trading.
-SJ
the projected price movement is to 6856-ish. This would bring the 1D to the oversold on the RSI. Previously seen on Sept 14th and Feb 5th crashes.
Remember that we have fibs at the 7600 and 7200 level. We bounced off the 7600 last night. The same level as our 2nd lowest daily candle close this year.
Let's see what happens in the coming days. I'm bearish still... but I always leave room for the bulls to come in and change my mind.
... as of now, with a very tight trailing stop-loss. :)
Happy Trading.
-SJ