We are now looking at a new channel (purple lines) as a trend indicator. We may be seeing a whole bunch of nothing (low volume/volatility) in that channel for a little bit. The general market as a whole and Bitcoin TA wise still indicates a downtrend, there is no reason for a reversal(going bullish) right now. For that reason I am still expecting BTC to drop. But we need a confirmation before we decide to short. Once the price breaks past 6500 then it SHOULD be heading down to 5800 at the very least. Right now the channel between 7100 and 6500 is a gamble. With how unstable Bitcoin is, especially with such low volume (meaning if the big boys decide to make a move they're moving against very little resitance) I am NOT going to take that gamble. As of right now I'm opening shorts if we reach sub 6500 and not a dollar higher!
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