Doom and gloom chart 1800?

7 nov 2019

BTC held monthly support but has failed to push through this range and bounce off the level. We have had plenty of setups on lower timeframes to warrant a push to top of range and all have been heavily rejected. MFI is currently at historically dangerous rejection levels, look at previous rejections around this area. A lot of interest around the 8600 area but pushing through this would create massive downside liquidity from people trapped in this range. A 6600 support bounce into a rejection of the 6600 drop trendline at around 8500 could see the 1800-2500 range being hit.