BTC - Resistance line broken - Bearish trend is coming...

in #bitcoin5 years ago (edited)

Hello all,

Since some days, I'm explaining you that we have to break one of the 2 blue lines below to know the direction of the Bitcoin.

Yesterday evening (depending of your location), we broke it :

BTCUSD.jpg

We are now upper again than this line but I think it is just a little reversal and we should go down soon. If it is confirmed, it is the signal that the bearish trend was not yet finished and that it will start again.

We should test first the 3000$ that we didn't break the last time but yeah, this time, my TA is showing that we should go under these 3000$, at least around 2400$, so be prepared...

The coming hours will be very interesting... Keep an eye on that line and see if we can break it again.

Take care all,
Cryptopassion.io

Disclaimer : Never invest more than what you can afford to loose. 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.

Version française ici : [FR] BTC - Ligne de résistance cassée - Tendance baissière de retour...

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Please if i understand what this post has, is it that the price is going to fall down so low to about $2400 and remain there? @cryptopassion

Hello @golevite, yes this means we should see a drop soon and that I think we will go deeper than 3000$

I just don't see bitcoin making any major gains until we get more concrete news out of China. The market needs something to get past all the FUD.

Tbh, I'm someone who trust that news come to confirm the technical analysis. So yeah I don't give so much importance to news and I focus on the chart.

Well I guess, I should have another reinvestment option later this week. Thanks for the analysis @cryptopassion.

Absolutely right @cryptopassion ,according to trend the market will definitely goes down and may hit $3400 again

Yes I think 3400 is only a first step but yeah we are aligned on the trend ;)

Interesting. A short term downtrend feels healthy to me at the juncture. I'm interested in seeing what happens with the STEEM chart if BTC really does aim at the lower target you mentioned ($2400.)

I'm short since yesterday evening and yeah kinda profitable. Now for steem, I suppose most of Altcoin will decrease with the Bitcoin. It will be a very nice buying opportunity for lot of Altcoin, Steem included I think.

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Nice post and upvoted.. keep steeming..
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This post has received a 0.52 % upvote from @drotto thanks to: @banjo.

I dont think so right now its 2637 when do you think this could happen, and the chinese stop drawing the market

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