Hi Guys!
As we see on this 1 D chart on Coinbase, we have some changes in the trend. I guess the uptrend is now exhausted and want to come down lower. Could be a healthy correction to the Fib level of 0.786 or complete melt down?
If BTC breaks the upward sloping trend line which is established for several months, then I see levels at least at the yearly lows of 2018 near 3,1 k. Could form a real double bottom and start the sideways trend for the next 5-6 months. Accumulation phase.
I see both scenarios playing out at the very moment, but first, we need the confirmation of the breakdown. I need to see 3750 levels break first.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.
As we see on this 1 D chart on Coinbase, we have some changes in the trend. I guess the uptrend is now exhausted and want to come down lower. Could be a healthy correction to the Fib level of 0.786 or complete melt down?
If BTC breaks the upward sloping trend line which is established for several months, then I see levels at least at the yearly lows of 2018 near 3,1 k. Could form a real double bottom and start the sideways trend for the next 5-6 months. Accumulation phase.
I see both scenarios playing out at the very moment, but first, we need the confirmation of the breakdown. I need to see 3750 levels break first.
Let's see...
Happy and safe trading!
*This is not financial advice, this is only an idea. Do your own research and act on your responsibility.