BTC - Support line Broken - Head Fake ?

cryptopassion (79)in #bitcoin • 7 years ago (edited)

Hello all,

We did a nice drop during the night which broke our support line easily :

The positive point is that break has been followed immediately with a huge reversal and we are already back higher than that line.

I think we could consider that break as a head fake to try a last time that people sell their BTC cheap.

As I talked to you yesterday, I think the support line will now be used to start the reversal and perhaps also a short term bull trend.

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.

Version française ici : [FR] BTC - Ligne de support cassée - Head Fake ?

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7 years ago in #bitcoin by cryptopassion (79)

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valikos (64) 7 years ago

Good analytics post

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1 vote

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motoengineer (63) 7 years ago

outside factors that aren't included in the chart are also at play here. Were again facing the energy use issues and scalability problems that have been haunting btc for quite some time.

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motoengineer (63) 7 years ago

thats to say that, we might actually see a brief pause in massive gains.

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cryptopassion (79) 7 years ago

For sure other factors exist but this is a technical Analysis and for this kind of analysis, we look only the chart.

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motoengineer (63) 7 years ago

valid point, but we have to blend in human experience too before we make our decision. TA is great for giving us data to act on.

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manishshadangi (38) 7 years ago

As we are seeing current rate of bitcoin is $6220.01 since there is great fall on bitcoin this month.
Might be there is a chance of great reversal.
Either it will give you huge in return, before investing on BTC research once.
All the best..!!!

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rnidhi (13) 7 years ago

Is Recent Bounce of price natural?I heard many rumours make people interested to buy huge volumes for last few months. Is there any chance to big fall?

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