Update BTC: confluence confirming the bearish trend
So, in my previous post, see below, I have shared my bearish view on BTC. I have doubted for a bit my analysis since yesterday. However, I re-assessed the price structure of BTC this morning, after closing my short positions unfortunately :(, because Now im more convinced that we are heading down for a serious retracement.
On the daily, an inverted flag pattern is being made at the moment. the breakout of this pattern will bring the price to the expected support level for its first test.
This all could be wrong, so lets wait and see!
On the daily, an inverted flag pattern is being made at the moment. the breakout of this pattern will bring the price to the expected support level for its first test.
This all could be wrong, so lets wait and see!
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The exact same price structure of the daily is being played at the moment on the hourly. its 1300 pm amsterdam time now.
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URGENT UPDATE: this analysis is not valid anymore. I believe bitcoin is reversing and heading up after a breakout and a retest of the trendline
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My guess that Bitcoin is going toward 63000
