BTC - In direction of the previous low
Hello all,
Here was the chart of yesterday :
Here is the current chart :
It looks like we want test the previous low around 7800$. Till now the drops have not been able to to reach that level but be sure it is the objective of the shorts. Even if they succeed, this is not drama but it would be much more better if that support line can hold. This little pause could allow us to have back some UP volume, which will allow us to reach new highs.
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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Great analysis. I expecting a pull back as well before the buyers take out the sellers at $8500.
Hi,
How far down are you expecting the retrace down before going up again, $7k?
I added back the seller orders that the buyers took out first at $8000. I looking for a pull back to this area again with a floor of $7770. If price can't hold this level, we may go back down to $7000 (green circle).
Did that help?
CryptoPassion...where does your MM50 line up...what price?
Thanks for explaining. I like your simple charting.
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Agree with this assessment! Volume will make or break this trendline as followthrough is needed. If not, we may have the capitulation bottom some of us have been waiting for.
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It seems the $8000 support is holding in the 1h chart but we will have to wait a few more hours to see what market does. Volume has been declining since the early morning drop.
When things don't die after 10 years...it is obviously time to start paying attention...
https://steemit.com/bitcoin/@heyimsnuffles/if-you-re-offered-a-seat-on-a-rocketship-you-don-t-ask-which-seat-you-just-get-on
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Agree with your assessment! Volume will make or break this trendline as followthrough is needed. If not, we may have the capitulation bottom some of us have been waiting for.
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