I wanted to post another quick update on my idea that I have been sharing with you for the past week.
It looks like the reversal formation is still in play as the 9.3k-9.5k neckline region was re-tested and BTC failed to break through it.
Most reversal formations undergo a re-test of the neckline and that is what appears to be happening here.
If this neckline breaks once again and the price can hold at least 3% under the neckline or hold for a significant period of time,
then our target range is still within $6.9k-7.1k, with the possibility of the 7.2k-7.4k range being the first bottom we hit.
If you like my ideas, please show me some support!
Thank you! =)