Hi all.
Once more time I'm back here with another Bitcoin analysis. Let's get to work directly. I see price has locked in a downward pitchfork since 55 days ago. Lower and upper lines of pitchfork reacted as S/R as well as highlighted horizontal lines which I drew 5 month ago (check my preceding analysis). I believe this happening downtrend could continue until it touches lower line of pitchfork once again where we would see 7200 area. But fortunately 9100 area (Orange horizontal line) is a powerful support now and it may stop price of going down more. To sum it up I think we are going to see 9100 area soon then a powerful candle under or above that area would take us into a new long time trend (which I hope it be a upward).
Once more time I'm back here with another Bitcoin analysis. Let's get to work directly. I see price has locked in a downward pitchfork since 55 days ago. Lower and upper lines of pitchfork reacted as S/R as well as highlighted horizontal lines which I drew 5 month ago (check my preceding analysis). I believe this happening downtrend could continue until it touches lower line of pitchfork once again where we would see 7200 area. But fortunately 9100 area (Orange horizontal line) is a powerful support now and it may stop price of going down more. To sum it up I think we are going to see 9100 area soon then a powerful candle under or above that area would take us into a new long time trend (which I hope it be a upward).
