SHORT to $6900 then LONG to $8200 and then THE BIG SHORT $4400

BTC got rejected at $7400 and I believe we will go down from here ($7300) to test the support of the wedge at $6900 and then do a obvious bounce (we are almost 30 RSI on daily now, bears needs some rest too!+support) up to $8200 where we have previous S/R and the Kijun. $8200 is where I will be looking to short it.


My WILD GUESS is that we go down to previous resistance at $4400 and finish the hyperbolic correction at ALMOST 80% correction.


Im newbie ish to TA so DYODD.

Kommentera:

What I mean by "obviuos bounce" and "bears needs rest" is that the RSI is so low on daily that I dont think bears have the momentum to do a solid break downwards from the wedge _yet_.

Kommentera:

I obviously think we will break the wedge downwards on the way down and finally reach som REAL capitulation.

Kommentera:

OK so the obvious bounce came off 2% higher than expected ($7140). No need to get overexcited though. Target still $8200. TK cross on daily looks unavoidable.

Btw, I would long eth instead of btc