Perfectly as previously forecasted, Bitcoin declined on Friday, and is still pretty much bearish on both the higher and the lower time-frames. So far, Bitcoin has remained confined within the falling channel, and the fact that the price could not rise above the upper trend line, we're very optimistic this crypto could be on its way to the lower side. This bearish rally is the continuation of the impulsive wave (v) to the lower side and should break below 4677.97 towards 3000.00. According to the current chart set and structure only short positions looks more ideal and can be recommended towards 4677.97. However, if the price could go beyond the upper trendline, then we'll wait for a second break above 13,000.00 to confirm a possible rally towards 20,000.00.
Trade Recommendation:
Remain short towards 4677.97
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
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Bob Stan
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