Chart is pointing to down move soon.
Possibility #1: Bitcoin retest top of downtrend channel and bonces- bullish move. Does not break below closing 7300
Possibility #2: Bitcoin break back down and close back inside bear channel, then we cry no satoshi no. After close below 7300, we look at test 6000-6400, if break below this, 5700 could be in range. This could be postentially devastating for market.
I am not trading much right now. I wait to see what happens.
Possibility #1: Bitcoin retest top of downtrend channel and bonces- bullish move. Does not break below closing 7300
Possibility #2: Bitcoin break back down and close back inside bear channel, then we cry no satoshi no. After close below 7300, we look at test 6000-6400, if break below this, 5700 could be in range. This could be postentially devastating for market.
I am not trading much right now. I wait to see what happens.
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If this level holds it can make bullish reversal signal..we will see!