Trendline Intersection Coming Up Tomorrow For Bitcoin (Video)
Bitcoin fell again on Monday and has continued to the downside today (Tuesday) as well. Lets have a look at the daily chart:
Comment: As you can see we have made another low today at 7742 and it remains to be seen if this could be a substantial bottom or not.
What is interesting here is that tomorrow we will get a trendline intersection between a long term supporting trendline and a short term descending trendline. If we can remain above those trendline during tomorrow, it is likely that Bitcoin could bounce up from here.
If we will stay below, we will likely head even further south. According to the Gann Box, we could get 3 more days of downside/sideways movements.
Anyhow, tomorrow will be very interesting indeed and we have to watch this development very closely on a day by day basis.
Happy trading!
We live in interesting times, but somehow I still have the feeling that these price movements will be mere blips when looking back 3 years from now.
yup, i still think bitcoin could hit 100k later this year, so, long term, cryptos is da shit...