3rd leg of the staircase pattern down. On hourly chart, possible IHS for yesterday dip forming the head or just the left shoulder if the pattern repeat 3 weeks ago. Possible small bearish channel, possible for short bounce to channel top around 6400~6500 zone which intersect with resistance level follow by consolidation.
Likely to retest 6000 or lower lows until whale buy volume want to support the price level which happened 3 weeks ago, let see if sentiment still around that level.
On daily candle, possible test on middle zone of the big bearish channel which is around 5250 zone.
On weekly, like to close off bearish engulfing possible more bearishness in next 1-2weeks. Manage to convert back mostly to fiat on the bounce past few days leaving some. Grateful for what the market has given. Prepare position for next discount levels.
Ultimately all depends on the whale volume sentiment
News: (Current) | (Upcoming) CBOE BITCOIN ETF, 30 Sep 2018 (may be extended again up to 240days) | G20 FATF, Oct 2018
Short term moving average (day candle) : downtrend gap wide
RSI : still room before oversold zone
Network Value to Transactions Ratio : 170+
Bitfinex Margin Long/Short Volume Ratio : 0.673
Depth Chart : (S) | (R) -
Weekly Timeframe : -
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