Curious what made you move the top trend line down? Not sure I can agree at this point it's following your prodiction, shouldn't the trend line look like my chart?
My analysis is BTC is going down, possibly 18k-20k range.
capamit2
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@works2020, May it will goes, but BTC made trap before every move, so it has to go down then 1st goes to 40-42 higher, then if it will able to touch 30k support, thats the confirmation of 20k support testing
works2020
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@capamit2, please clarify, are you saying another trap is taking place around the current trading price (40-42k range) before BTC begins it's movement down to the 18-20k range?
I think we're both saying the same thing and agree the 40-42k range is the main factor now. Without a large break through at this price level to the top then my analysis shows BTC is heading back towards 30k range, ultimately 18-20k range.
Your chart shows upward trend my chart downward, both dependent on the 40-42 action. Agree?
capamit2
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@works2020, BTC doing 5th wave of current short term phase, death cross also going to happen next week, so it has probably one more down to the 30k level, we are in bull run till 30k support not breaking, there are 50-50 chances for both side, as per recent halving BTC has to reach at least 100k by EOY 2021
capamit2
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@works2020, if BTC not able to hold 37k level then definitely your TA will work
works2020
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@capamit2, I agree. My analysis still shows the head and shoulder top/reversal is still in play. This being a reversal pattern it's saying there's not enough demand to push upwards. Also, a retracement is a good thing, especially when any investment has seen the growth BTC has. No investment can simply continue to go up, it's not an option and will only come down faster and harder. I'd rather see the head and shoulders play out, price move down to the 20k range, build a strong base then make a run to 75 - 200k, build another base, then continue upward.
capamit2
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@works2020, I totally agree, it is compulsory to made base near about 20k before strong upward move, lets see what will happen
Curious what made you move the top trend line down? Not sure I can agree at this point it's following your prodiction, shouldn't the trend line look like my chart?
My analysis is BTC is going down, possibly 18k-20k range.