Hello Trading View,
In my last idea couple of days ago, I warned about the possibility of a double top formation. Disregarding Binance bugs and Mt- Gox dumping, the market overall again became bearish and I suppose that we would have seen the same numbers but a couple of days later. This is the crucial moment for Bitcoin. If 9200 resistance manages to hold BTC would need a couple of days of the consolidation phase, but more likely we are going down and it is free fall towards 7k minimum, which is downside target for double top formation.
I still can not be precise with longer-term supports under 7k and 6k. February was bullish month, but the bull momentum was controlled by the bears all the time, after massive long profits its time to short the market. if me Elliott is correct, we are in for some lower lows.
In my last idea couple of days ago, I warned about the possibility of a double top formation. Disregarding Binance bugs and Mt- Gox dumping, the market overall again became bearish and I suppose that we would have seen the same numbers but a couple of days later. This is the crucial moment for Bitcoin. If 9200 resistance manages to hold BTC would need a couple of days of the consolidation phase, but more likely we are going down and it is free fall towards 7k minimum, which is downside target for double top formation.
I still can not be precise with longer-term supports under 7k and 6k. February was bullish month, but the bull momentum was controlled by the bears all the time, after massive long profits its time to short the market. if me Elliott is correct, we are in for some lower lows.
