BitcoinShort
Bitcoin moving in a downtrend channel
Updated
After hitting the 11400 athigh following a massive rally we are getting the waited pullback. Time to lock in some profits and wait to buy lower. At least that is what I'm doing :)
When should you buy again?
Looking at past corrections we observe that a 40% correction is common. That puts us around the 6 to 7.5k range, Both big resistance/support levels.
Can btcoin just keep rising?
Yes! But in my opinion this is not a bullish movement. Also the high volume and volatility indicate that we most likely have reached the top. Let's wait and see.
When should you buy again?
Looking at past corrections we observe that a 40% correction is common. That puts us around the 6 to 7.5k range, Both big resistance/support levels.
Can btcoin just keep rising?
Yes! But in my opinion this is not a bullish movement. Also the high volume and volatility indicate that we most likely have reached the top. Let's wait and see.
Note
Out of the channel!
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