Retest of the trendline

10 ก.ย. 2020

Situation
After profiting from the last short (last BTC analysis), we are in an interesting spot.
Breaking 10k will lead to a massive meltdown, due to the new algo targets created by the move.
Target of meltdown would be 8.2k.
8.2k is
-> the 0.5 fib from the move from 4k to 12.5k
->1.618 target from the move from 12.5k to 9.8k
-> massive support
Right now it looks like we will test 11k and decide from there, if we will continue the dump or choose to move to 13k .
-
Trade
-Long, if we stay above 10k and take profits around 11k (exact selling prices are red)
-Short if we close below 10k and see massive selling volume