As mentioned in my previous BTC post, we’ve come down and broken through $7000 but the question still holds – will the daily close below?
Now for some this may be the time to buy as price touches the trend line for the 5/6 time and we’re at a significant level. Nonetheless I feel price may consolidate along this level for a few days and maybe even drop towards the blue line as indicated at $6500. Only then will I consider longing and hoping to see a break of the channel and head toward $10,000.
IF however we close below, and head further passed $6000 we could be heading all the way down to $3000.
Considering all possibilities when trading is vital in order to stay one step ahead of the market.