BTC breaks down out of channel
Failed to break back in and confirmed bearish trend triggering my remaining stops. A few pundits went 'bullish' which is often the trigger for
- Target 1 is a bounce off 9k (target $9,090 / 38% FIB) - if it makes it this deep now, for me this is a low risk buy.
- Target 2 is the $8,500 target and a bounce of the 200MA / EMA / 50% FIB - healthier retracement may spur BTC through the 11k ceiling.
- Target 3 is potential 'double-top' run up to the base of the bullish channel. BTC could break-through of course as to-date the run has been pretty bullish.
It could go up from here but it failed to reclaim 10k so expecting a further drop.
Best, Hard 'regression' Forky
- Target 1 is a bounce off 9k (target $9,090 / 38% FIB) - if it makes it this deep now, for me this is a low risk buy.
- Target 2 is the $8,500 target and a bounce of the 200MA / EMA / 50% FIB - healthier retracement may spur BTC through the 11k ceiling.
- Target 3 is potential 'double-top' run up to the base of the bullish channel. BTC could break-through of course as to-date the run has been pretty bullish.
It could go up from here but it failed to reclaim 10k so expecting a further drop.
Best, Hard 'regression' Forky
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