As mentioned in the previous analysis, the market, after an unsuccessful attempt to grow from the level of support of the channel, fixed inside the zone between 10k and 10220, which was a signal for further descend. We have already described the situation in more detail in the previous updates. If you still are not in short, then you can enter short, most likely during the retest of resistances. The position can be opened now in the ranges from 9700 to 9900 and 10k. Currently the market is in an obvious phase of local decline. We see strong resistances above at 9900 and 10050. If the market trades above these resistances, then we can safely assume that we will see an upward movement, but the chance of such a scenario equates to approximately ± 9%. Beneath there are 3(4) resistances. (4) - the resistance that I did not mark, this resistance sent the price for a correction, I consider this level reason enough for a stop. Lower are the levels are 9220 - 9100 - 8800 - the levels that are now pulling the price towards themselves. In one of the posts, when the price was at 9100 - 9700, I said that after correction there is a chance to consolidate in the 10k - 11k area and go to the update of the low 9100 range. Since consolidation (not correction) in an upward market can be a sign of the buyer's weakness, or a sign of the seller's strength. This is what happened, most likely we are moving to the update of the low 9100 range. The level of ± 9k will be decisive for us in the future.
9k will not hold for long.............finger in the dike will not work. Lower prices over the next 50-60 days for sure. My 2 cents worth, Bill. 8500+- better number for a soon time and price range.
ferGOD
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Thanks for sharing. We go together because together we are stronger. God be with you
UnknownUnicorn3511625
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Update the situation for you!
Thanks!
Edgy_
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Hey buddy. Have a look:
=> If you get a downward channel like this, you cannot go lower forever.
Husain_Arkghazi
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great work bro, same analysis here, maybe a relief rally from 9500 could push the prices between 10250-10450, check it out
BTCINVESTING
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Thx. Maybe it's a simple W formation. Here my current idea ...