AsBobbyDigital

BITCOIN (BTC): No big deal! 6K is coming!

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BITTREX:BTCUSDT   Bitcoin / Tether
I am back on-line with updated BTC's TA. Let's look at 1D TF BTC's chart. The supposed rebound of BTC failed and bulls were tired $7000. Price dropped down to $6650. At the same time, bottom line of Global Downward Trend Channel has been broken. Also we have 5th Elliot's Wave confirmed. Also we got a few attempts to get back into Global Downtrend Channel, but BTC didn't manage it. Now, BTC is stucked between two S/RL at $6950 - $6650. If you look in more detail, at 4H TF, BTC is forming bearish "Descending Triangle" pattern. My guess is, that we probably can expect "Descending Triangle" breakout sooner or later. The question is whether upward or downward. Regarding to TA, It should be downward. The next support line is at $6000.
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