midterm recovery, short term price breakout
current downtrend was caused by a bearish rectangle / and the double top
Currently there is a gartley bat / cypher armornic pattern that might complete at 6900usd which could mean a short term price recovery but the resistance will probably make that the price fall to(or below) trendline
if the 6900usd support is broken,is possible that BTC -4.60% might drop to 6000usd, if it drops from current trend line is better to sell,because the RSI doesnt show BTC -4.60% has finished to be oversold
Currently there is a gartley bat / cypher armornic pattern that might complete at 6900usd which could mean a short term price recovery but the resistance will probably make that the price fall to(or below) trendline
if the 6900usd support is broken,is possible that BTC -4.60% might drop to 6000usd, if it drops from current trend line is better to sell,because the RSI doesnt show BTC -4.60% has finished to be oversold
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.