BTC is in a historic moment of decision!
If we close the next weekly candle below the 11 year support and resistance(red line) we will see a breakdown out of our very important parabolic curve!
We could see a retest of the 17k level and from a double bottom or break it and continue the bear market.
I think that a breakdown is slightly more likely, but would have huge impact on the price!
The next time will be very volatile with high volume and also be aware of the weekend movement, because there could be a fakeout to the downside and then a gap close from the big players.
have a nice weekend and dont look at the BTC price to often :)
If we close the next weekly candle below the 11 year support and resistance(red line) we will see a breakdown out of our very important parabolic curve!
We could see a retest of the 17k level and from a double bottom or break it and continue the bear market.
I think that a breakdown is slightly more likely, but would have huge impact on the price!
The next time will be very volatile with high volume and also be aware of the weekend movement, because there could be a fakeout to the downside and then a gap close from the big players.
have a nice weekend and dont look at the BTC price to often :)