As we can see, Bitcoin still inside falling wedge pattern, and almost reach falling wedge support. This support around 7300, and this point is very important for bitcoin.
At June 01, 7300 become a very strong support level, and this support still not break down. Not only that, we also can see that 7300 are 0.618 fibonacci level. This level from 14 December low to 26 june high.
Conclusion : If 7300 able to hold bearish movement, we can buy bitcoin at this level and set target at fibonacci 1.618 area at 18000, with time estimated maximum 312 days. But if this level break down, next support at 4550.
Quite interesting to think about!
My recent idea about BTC
Please share your thoughts on this
Fellow_Binancians
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try use Bitfinex Chart 1D, still in faling wedge? wait for your update.
AzrulAzir
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@mysql_query, thanks for your information, i will check it.
CryptoBullet
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Golden cross incoming(inverted chart) + identical to Nov 2018 - April 2019 market structure = another 1K drop?
pensador84
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Its the charts telling us sub 6000 and then I can see a 10x from there for BTC after the halving next year. Should be a good time to get some nice discounts
jpodhorsky
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I uderstand your level but I thik en of correction will be in the range 5600 - 6300