Sentiment is starting to turn but still a lot of bidders here.
However there is also a high degree of caution so it could work in theory as a bullish scenario if the move outa here is violent enough and not massively telegraphed.
At stake here is the potential continuation of the 3k->14k bull trend so if this happens the market makers want to make sure that as few people as possible have large long positions on BTC going into 2020.
If this level fails we will re-assess sentiment and see how accurate our path B is for the time projection going forward.
Dont underestimate the power of a time correction. Nice bit of sideways action down lower could boot people out as they just simply stop looking.
However there is also a high degree of caution so it could work in theory as a bullish scenario if the move outa here is violent enough and not massively telegraphed.
At stake here is the potential continuation of the 3k->14k bull trend so if this happens the market makers want to make sure that as few people as possible have large long positions on BTC going into 2020.
If this level fails we will re-assess sentiment and see how accurate our path B is for the time projection going forward.
Dont underestimate the power of a time correction. Nice bit of sideways action down lower could boot people out as they just simply stop looking.
Once he gave up the 8k level and fell back inside the major trendline it was never gonna be pretty.
Now sitting at last stand level.