Further down is what's going on

1 giu 2018

For a moment there, I saw we got above that long term resistance line and started using it as support, which would indicate we're now out of that downward channel and starting a heads up towards a greater resistance area, but that confirmation never came. An (expected) drop back into that channel confirmed for me the channel is where we're staying for the moment. Continuing further down to $7200 - $7400 - $6900 and further down to test the long support line at 6400. We can add traders indicating lower bottoms at lower $5000 regions but market sentiment has to be added to your chart somehow. We all know when below $6800, the big boys come out and play. If we have to go below $6000, it definitely won't be for a long time...When your chart gives you other ideas and insights, please comment!