BTC - Taking the direction of the previous low at 6000$?
Hello all,
Here was the chart of yesterday :
Here is the current chart :
Here is a long term view :
As you can see, I added you the next support line in red. This line in red is corresponding to the previous low around 6000$. I think the market want go test that support line again.
Does it mean that we will break it? No, I don't think. The Bitcoin is oversold currently and I don't think we will have immediately the volume needed to break that line. I'm more thinking that we will use that support line to start a nice bounce.
I wish you massive profits,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
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This is what bitcoin has been doing for last three months. Public is under pressure and giants are playing with their emotions.
I had bitcoin and I was planning to sell it to buy me a MacBook but right now it looks like a dream.
We all know in the long run it is going to cross all the privious recoreds, so just hold and wait.
Still in a long term down trend!! Need to reverse however putting it into perspective, we are still 6x up on last year!
There is a strong selling pressure on Bitcoin, which has managed to fracture below the 7586 support. This has allowed us to once again observe a test of the Fibonacci level of 78.6% in 7068, since the bearish signals are well aligned in the short term, also taking into account that the Parabolic SAR remains in favor of the bearish bias.
Gracias por tan valioso análisis. Paciencia y resistencia el mercado esta volátil ! Gracias por los gráficos @cryptopassion
:( bitcoin ....
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How low can it go?
Bitcoin was dipping in the same way as it rose at the last quarter of 2017. I think with recent blood bath one can't afford to invest in Bitcoin till it prices reach less than 5,000$. let's hope for the best. keep sharing @cryptopassion
I agree we will see the 6k tested again, I think it's quite a strong support line. It might be a bit of a self-fulfilling prophecy as we hear it so much but I'm inclined to believe it will be bounce and will be buying around those levels as a consequence.