The channel is gone, just as we predicted.
It's a sad day to lose such a strong channel, especially for you bulls out there who stayed optimistic.
Earlier, bitcoin bounced out of the channel that it was steady trending in due to a quick 1 hour bump in bear volume.
If this pressure keeps up, expect to fall all the way down to the .5 fib level, where heavy bear volume bounced bullish earlier last week
For you bulls out there - it's a waiting game. Wait till you see confirmation after a new trend formation.
For you bears out there - you might see some more gains once this .382 fib level is broken.
For you newcomers, it's a 50/50 right now. be careful entering with leverage
What do you think? Is this just a head-fake, or are the bears taking back some control?
-Block
It's a sad day to lose such a strong channel, especially for you bulls out there who stayed optimistic.
Earlier, bitcoin bounced out of the channel that it was steady trending in due to a quick 1 hour bump in bear volume.
If this pressure keeps up, expect to fall all the way down to the .5 fib level, where heavy bear volume bounced bullish earlier last week
For you bulls out there - it's a waiting game. Wait till you see confirmation after a new trend formation.
For you bears out there - you might see some more gains once this .382 fib level is broken.
For you newcomers, it's a 50/50 right now. be careful entering with leverage
What do you think? Is this just a head-fake, or are the bears taking back some control?
-Block