BTC - Correction still in progress - Direction of our support line

in bitcoin •  4 months ago

Hello all,

The correction continued during all the day.

Here was the chart of yesterday :

BTCUSD.jpg

Here is the updated chart :

BTCUSD.jpg

I don't see anything which can stop us now to go touch the support line in green in the levels around 8400$. I expect that this line will pause the drop, at least during the first touch. If this line is broken with volume, the next support line is around 6000$ but it is a little bit too early to talk already about these levels...

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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I can't wait until we finally break a new all time high. We've been so spoiled over the last 2 years with bitcoins rise. We lose our patience in a downtrend lol

Some review on platform Bitfinex, please.

I ain't even mad. The only crypto I care about now is Genesis Vision.
$GVT ^^

Unfortunately, the lack of volume is killing this market.

UX changes must be done to get more people interested in the tech and it's potential, rather than solely price action. Of course it takes time, but blockchain and cryptocurrencies are here to stay, we just need to keep the boat floating.

Bitcoin falls due to Binance hacking and SEC statements... I think that soon the growth of bitcoin will continue.

гггг.jpg

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Yep only time will tell. People want cryptos, others don’t. Interesting times to be alive.

It's a little bit too early to talk about touching the support line also... but who knows...:)...

cool guys, right now there is a lot of turbulence in the crypto markets, but this is going to happen, and when the rebound comes it will be a phenomenon for all the crypto, patience is a virtue

Another interesting dip, another interesting time to profit :)

Best time to buy btc or ltc, steem

What are you think for SBD bro grow or die ? nice news thanks for sharing with us @cryptopassion

The good news is that Mt. Gox is most likely done selling their stash. The rest should be in the hand of Mark Karpelès. For now the sell pressure should have resided and we can get back to business as usual in the next couple of months. Once we breach the 16-17k range I think money will start flowing back in. For now try looking at the price is boring and not useful. BTC is now a hold if already invested or wait and buy situation IMO.

Bitcoin volatility has been falling with the price. If the price remains relatively stable at around 8K-11K for awhile, that should stop weak hands from selling and ease the collective fears of potential buyers. Hopefully the price drop encourages more buyers as well.

Very interesting analysis!!!

Good article!

@cryptopassion Thank you very much for the information ,, after reading this I will be more cautious in investing, although now I have not got anything to invest,

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very helpful!

1.JPG

how about 5 day line start down?