Bitcoin looks like its ready to fall again and maybe even find an Lower Low.
Because this Mountain is still smaller than the last one it looks to me like Bitcoin is in Longterm still Bearish.
It was not able to break the Keylevel of 9400$ and its already starting to go down again.
Even if it pulls back over the 8500$ resistance, i still think it is bearish because it tested the 8500$ very often know.
Normaly if the Trend is testing out a resistance that often it will start building up Volatility and than break the resistance with a very strong red candlestick.
Open Short at: 8400$ | Stop Loss(8750$)
Short Targets:
Shortterm possible Target: 8180$
Longtterm possible Target: 7500$
Lowest possible Target: 5000$
These are just my thoughts, the information provided is not a financial advice.
Because this Mountain is still smaller than the last one it looks to me like Bitcoin is in Longterm still Bearish.
It was not able to break the Keylevel of 9400$ and its already starting to go down again.
Even if it pulls back over the 8500$ resistance, i still think it is bearish because it tested the 8500$ very often know.
Normaly if the Trend is testing out a resistance that often it will start building up Volatility and than break the resistance with a very strong red candlestick.
Open Short at: 8400$ | Stop Loss(8750$)
Short Targets:
Shortterm possible Target: 8180$
Longtterm possible Target: 7500$
Lowest possible Target: 5000$
These are just my thoughts, the information provided is not a financial advice.