From the 4H chart of CEXIO:BTCUSD one would cheer for the action to head north towards $12.7K... Just when you thought the bulls were going to guide the price action back towards the upper barrier of the major downtrend channel (dashed cyan), the bears throw a party and swat it towards the lower support line extending from 2017Q2 (dashed yellow).
If this support line is breached, we can quickly expect it to head towards the 38.2% fib (about $8200). If the BTC Yakuza (what Japanese call BTC Whales) have anything to say, the price will be driven down further before the Chinese bulls come in and pick-up the dips. Looking at the chart, we are clearly going to continue our sideways trading (in favor of the Bears) for the weekend. As you can see from the Ichimoku clouds, the game could go either way.
Tighten your belts and keep your arms inside the ride as the BTC Jet Coaster takes us all for a ride!
Good luck trading!
<<< For entertainment purposes only, this does NOT constitute financial advice. I'm not responsible for your losses and profits. Nor am I your investment advisor. >>>
If this support line is breached, we can quickly expect it to head towards the 38.2% fib (about $8200). If the BTC Yakuza (what Japanese call BTC Whales) have anything to say, the price will be driven down further before the Chinese bulls come in and pick-up the dips. Looking at the chart, we are clearly going to continue our sideways trading (in favor of the Bears) for the weekend. As you can see from the Ichimoku clouds, the game could go either way.
Tighten your belts and keep your arms inside the ride as the BTC Jet Coaster takes us all for a ride!
Good luck trading!
<<< For entertainment purposes only, this does NOT constitute financial advice. I'm not responsible for your losses and profits. Nor am I your investment advisor. >>>
