Bitcoin's still in bearish market, as it has lower lows and lower highs.
Another indicator may be that it failed to break-through that 200d EMA line. In 2017 bullish market BTC was above that line for quite some time.
Now we have either a big Falling Wedge Formation or big Descending Triangle. Hard to say as that lower line is tricky.
Next target is ~$5,650 which is that lower line support, and after that another small bull run to ~$6,800 is possible.
It looks like Bitcoin's going for 78,80% correction, and the price of $4,200.
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DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst. The contents posted by me are for informational and entertainment purposes only. Don't follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If you like my charts, follow me on Twitter or Steemit.
Another indicator may be that it failed to break-through that 200d EMA line. In 2017 bullish market BTC was above that line for quite some time.
Now we have either a big Falling Wedge Formation or big Descending Triangle. Hard to say as that lower line is tricky.
Next target is ~$5,650 which is that lower line support, and after that another small bull run to ~$6,800 is possible.
It looks like Bitcoin's going for 78,80% correction, and the price of $4,200.
-----------------
DISCLAIMER
I’m not a certified financial advisor nor a certified financial analyst. The contents posted by me are for informational and entertainment purposes only. Don't follow any analysis blindly, and make your own decisions. Always plan your trades and play with stop-loss.
If you like my charts, follow me on Twitter or Steemit.