BITCOIN: Short Term View: BEARISH
Breakout Confirmed?
Much sideways action the past days so haven't posted much. Try to make at least one post per day but if there isn't much action going then my last post is usually still valid.
- Broken out of the rising wedge/first wave diagonal. Most likely a price dump is coming soon.
- Broke support line on RSI which confirms a bearish view.
- Still possible that we have one more impulse up to $6,900 area before heading down to my main target at $6,300 area.
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Disclaimer:
I'm not a financial advisor and these are only my opinions. I don't take any responsibility for any investments that you make based on my analysis.
IMHO BTC has reached it's bottom already by the end of June and will go up a bit more starting mid July til August.
There are so many new technologies out there which will blossom in the future, just takes a little longer ;)
I agree with you. I also think that, right now, the outlook is bearish for Bitcoin and many other cryptocurrencies.
Another Awesome analysis.
I appreciate every analysis you publish