This is a lower t.f update. Update to my previous idea, with a better chart view. I'm still short. The price is currently nearing the 8/1 Gann Fan line from the recent pivot low. A break of this line, would send it lower to 7100-6900.
I am still short. As of right now 7400 is resistance and 7319 is a WICK ZONE.
Recap of previous idea:
"This is a lower t.f / higher t.f update.
I am still in the same short. The resistance (7445) did hold and reject the price. Here’s what’s next:
Below 7300 = 7268
Below 7368 = 7200
Below 7200 = 7125
Below 7125 = 7084
Below 7084 = 6900
Below 6900 = 6861
Below 6861 = 6820
Below 6820 = 6664
That should be enough for now.
Ideally, for me, I’d like the price to move to the right and fall off the fan, make a new lower pivot low before attempting a run up, but the price does what it wants.
I also believe that the 4 hour period near the next daily close is important.
I believe that between now and January 15, 2020, Bitcoin will complete it’s bottoming process. I also believe that after February 2, 2020 it will be full speed ahead (upwards).
Let’s take this one step at a time."
I am still short. As of right now 7400 is resistance and 7319 is a WICK ZONE.
Recap of previous idea:
"This is a lower t.f / higher t.f update.
I am still in the same short. The resistance (7445) did hold and reject the price. Here’s what’s next:
Below 7300 = 7268
Below 7368 = 7200
Below 7200 = 7125
Below 7125 = 7084
Below 7084 = 6900
Below 6900 = 6861
Below 6861 = 6820
Below 6820 = 6664
That should be enough for now.
Ideally, for me, I’d like the price to move to the right and fall off the fan, make a new lower pivot low before attempting a run up, but the price does what it wants.
I also believe that the 4 hour period near the next daily close is important.
I believe that between now and January 15, 2020, Bitcoin will complete it’s bottoming process. I also believe that after February 2, 2020 it will be full speed ahead (upwards).
Let’s take this one step at a time."
Do you like my analysis? Do you want to stop paying for stop losses and make money? Come trade with me in my private Discord group with this link discord.gg/q5Q7GzVD3h - Send me a DM to start.
