BTC -- The question "Is the correction over? " - The answer is we still do not know.. Market will decide it soon. Two scenarios are given in the chart. Tough to say one is stronger option than the other.. Although we recently have a bullish signal, I do not think it is strong enough. My opinion is we may likely go down again since the correction may not be over yet. We will see.
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When I hit the publish the idea button, BTC was around 15000. It is now 13800 within 10 minutes.
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Do not buy or sell.. Market is too volatile. For buy, wait for the confirmation of breaking up Support 2 and/or 3. Also, I would not sell at this point till we go up to 16.5k level and re-evaluate the chart again (very important)...
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We are moving in the channel. We hit the channel line and now moving up in the channel. Next resistance is at 1500. If we cannot break that resistance, we may breakout the channel line and drop further to support 3 level first, which is at 13000 level.
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Here is what can happen if we cannot break the resistance at 15000.
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Channel shown in the chart above is broken. Here is the new channel. We will be going down. Get ready.. Strong support at 8500 level.
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Strong support at 12000 level. You can follow my new post on BTC
