danny_the_trader

BTC in descending channel

BITSTAMP:BTCUSD   Bitcoin
There is a fibo descending channel that can act as a dynamic support while BTC is crawling down. If week closes above 17080 BTC can try to retest 18600. In other cases there is a high chance of retesting 15700, 15100 and eventully 13880. Montly candle looks scary and suggests touching 12000. Nevertheless there is a chance to bounce from the bottom of the channel if sellers' pressure decreases and test 18.5k->21k->24k.
I wait BTC in the yellow box

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