This path for $BTC was shared with subscribers exactly a week ago with this message: “BTC is bearish going into the week with the target of $48800-53000 that can be achieved some time during the week.”
Now BTC is setting up for the next move that is discussed below. As usual, let’s have a look at the coin from different angles.
The weekly analysis with Long Term Forecast can be viewed here:
This daily overview contains:
– daily candle charts – analysis of candles and technical events;
– detailed hourly EW chart and an updated mid term projection;
– forecast for this week – possible targets and timing.
Today’s red candle is quite a bearish message. It is not only formed a Falling 3 Methods combo, it is also closed below the 100 DMA and did it on high volume. The price stayed within BB and did not trigger oversold.
It looks like another red candle is in the cards, perhaps after a few days of pause.
The weekly candle is also on track to form something very bearish.
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