Still On The Way Down

Don't shoot the messenger but I'm just reading the charts and inform you what I see :) I'm not concerned at all about Bitcoin in the long term. I see this bear market as a wonderful time to accumulate cheap bitcoins.

If you read my previous post, you can see that I anticipated a peak at $6,900 area and we almost hit that target. We're on the path down to $6,500 again as we failed to break RSI resistance.

Short Term View: BEARISH

• As expected,resistance at both top of channel and RSI held.
• Most likely will see a bounce down to $6,500 area again like projected in the previous post.
• RSI is resting on a support line that needs to hold. If not, $6,500 is next and then down to the support line of the bigger channel which is around $5000 area.
  

How to trade this scenario:

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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.