Big pink triangle: mapped high and low for the past year. A,B,C,D: resistance lines created by the highs during the correction. Delta start - current: the different in the trend from the start of the correction until the point of creating this idea. Drop: area where the correction would be greater than the current delta. this would mean larger volume selling or FUD. (6000 support might hold, but could break) Orange zone: zone we will enter if the correction stays stable and fails to break resistance A, this means there is some long-term support and the 6000 support will likely hold. Buy zone: if the 6000 support hold, this is a great zone to get in. Sell zone: zone to sell before hitting new resistance.
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Looks like we've hit the sell area! Think we'll keep trying to push through the resistance (sell zone) or fall back to the orange or possible red (buy zone)?
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Find support at the broken resistance line B? Else we're looking at A around 8700 to offer support
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First retest of resistance C. If BTC reaches 11150 it think we'll go for resistance D
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11150 reached, next step 11600 or 10000?
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Important days ahead! will the B-line (9900) offer sufficient support? or will we drop back to A (8500) or below?
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B-line offered enough support to hold the price during the H&S created in the sell zone. If we can break resistance C again, we'll give resistance D another shot around 11K. If we break thorugh D and are able to hold it for a day, the bulls are likely to return and push the price to 14K+. If we fail to get past C, we'll prolly return to 8600 or even lower.