Here's our current issue which we are dealing with in this market. Bitcoin is riding right on our resistance and support levels which is 'extreme' to say the least for crypto market. Downtrend below our long term support which has been valid since late 2017 will bring us much closer to further supports which are located at $5,150 , $3000 levels.
Upon a successful upward break, which is what we all want to see now, we will pull over $7,500 in short term and $10,000 in few weeks thereafter.
SUMMARY
I suppose 2 options of further trend:
Bulls will break through 6350$ and continue the rise to 7k$.
BTC drops down to lower border of the channel, probably drop will be with pin bar. Then we will see nice bounce, breaking through the upper border of downtrend channel and continuation rise to7k$ and beyond.BTC fall to 3k$. This option is quite real, but I'm not sure that whales will dump the market till this value. Because 3k$ value is located behind the event horizon and it would be very difficult for BTC to return back to current values. Many people will lose their faith to crypto and leave the market at the end.
I will update this chart as new info comes up for my followers.
The information provided by @arjunsingh is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.
