BitcoinShort
BTC: Short term retrace.; Med. term dead cat bounces or reversal
Short term:
Price is currently reaching the long term downtrend line, a long term resistance line and a Fib retracement line, i.e. strong resistance.
For the past two weeks, we've been in a quasi sideways market with slightly lower highs and lows, and a recurring 4-days period between a low and consecutive high. We're also currently at a high or said pattern.
All these factors combined IMHB suggest a drop of price to ~428 in ~4 days.
Medium term:
As the long term downtrend forces the price to cut down through consecutive resistances, we might see dead cat bounces, and finally reversal.
Price is currently reaching the long term downtrend line, a long term resistance line and a Fib retracement line, i.e. strong resistance.
For the past two weeks, we've been in a quasi sideways market with slightly lower highs and lows, and a recurring 4-days period between a low and consecutive high. We're also currently at a high or said pattern.
All these factors combined IMHB suggest a drop of price to ~428 in ~4 days.
Medium term:
As the long term downtrend forces the price to cut down through consecutive resistances, we might see dead cat bounces, and finally reversal.
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