Bitcoin daily chart has formed a massive bull flag. The price should drop to $5,800/$5,600 which would touch the bottom line of the bull flag. This level is also 0.786 on the Fib chart, also a strong support level. And finally this should create a double bottom with 12th Nov which should indicate a trend reversal. RSI is oversold too on the daily. Last time this happen we saw a bounce back to $11,500.
The target of the bull flag is $26,700.
Right now I am even considering if TA works for BTC. Seems like there is too much manipulation in the market. So don't take this as advise just my opinion on what could happen.
Let's wait and see what happens.
Good luck guys and may Bitcoin not drop below $5k. Ever! lol
The target of the bull flag is $26,700.
Right now I am even considering if TA works for BTC. Seems like there is too much manipulation in the market. So don't take this as advise just my opinion on what could happen.
Let's wait and see what happens.
Good luck guys and may Bitcoin not drop below $5k. Ever! lol