Overview of 1D: Relief Rally in progress: until the closing price above 8.2k is established on the...

1W - all the advancement of price will be treated as a 'relief rally'. Relief Rally is a correction of the previous swing, the current volume profile suggests that the advancement in correction is the one denoted by red 'X' - 8400-9040 USD to test a logarithmic downtrend line. That would provide an excellent opportunity to short and in author's opinion is the best case to be made for the bulls at the time of writing. 1D closing price print above 7500 USD is needed to justify the long position with the assigned targets and a tight stop loss at ~7100 USD - previous intraday support turned resistance.

There is a significant gap of 18% in between price action and the death cross, so the 'reversion to the mean' principle may push the price upward until further sell-off will trigger.

However, the scenario outlined can take place 'if' and only 'if' bulls can establish a successful print of a 1D 'higher high' - at ~7500 USD.

Now That You Read It… I Am Proud To Invite You To Join The Most Accurate, Most Respected (And Wealthiest) Crypto Family Today And Cash-In On Our Badass Crypto Signals!
(It takes less than 40 seconds to get your Blockchain Whispers badge!)
Here's Why Joining Now Might Be The Best Thing You Can Do Today:
  • You Get An Occasional But Accurate FREE Crypto Trading Signals!
  • Real-Time Notifications About New Signals, New Posts And New Important Crypto Happenings.
  • BlockchainWhispers–only members opportunities to make money or to save it from bitcoin downfalls. All when you start filling out the simple form above. See you inside!

Step 1/3: Create Your FREE
Blockchain Whispers Account

(Already have Blockchain Whispers account? Login Here)

IMPORTANT: to keep quality of the signals high & avoid pump-and-dump, new membership slots and free signals are limited, so I strongly advise join now..