I've been waiting to do this since everyone is doing it. I always start my TAs drawing resistance and support lines, then trendlines, internal trendlines, speedlines and so on. After this I search for reversal patterns, chart patterns...
In this TA you can see how BTCUSD forms a bullish flag and how it finds certain resistance to break 1/2 and 1/3 speedlines. The moment it breaks, it finds some confort there, stands some days there and then pop ups. However, as soon as it broke 1/3 speedline, things started to go bad. It dropped almost to 1/2 speedline the went back up to 1/3 BUT IT DIDNT BREAK THIS TIME (point B of correction ABC wave). From this point it just went down. Now it's finding confort at 1/2 speedline and my guess is to stay there a few more days then it will break the flag and rally up to retest 1/3 speedline.
You can also see that recently it touched the 130 days EMA line and maybe history will repeat itself. The other 2 times it did this, it just went up and up (stochastic indicated oversold both times as well).
Personally, I don't see BTCUSD dropping anymore than 9k USD. However, its lack of content, news and representation is failing it hard and it may reflect on its price.
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.