BTC likely will drop to 6400 which is a decision point.

5 ก.ย. 2018

BTC has been respecting the descending trendline I have been drawing for months: hence the recent rejection at 7400's

I am expecting a fall to 6800 and either a brief stop there with congestion and/or a fall straight to 6400.

6400 is a longer term support/resistance and lines up with a new path of potential "higher lows". If we can stop here and move upward to retest the descending trendline, this will be a hint that BTC is beginning to turn neutral, which is good news overall since we have been bearish all year. Even if we reject again at the descending trendline, this will show an indication that BTC is losing it's bearishness and may see a recovery by the end of 2018.

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