Bitcoin vanish major support and now heading towards 9000 and 7500 levels

errajesh (62)in #bitcoin • 7 years ago

Toady's update : Now $11051

Image from Amibroker tool by @errajesh

Major cryptocurrency are corrected more then 50% in last few weak and sentiments are not good for cryptocurrency. And bitcoin also leading all these sentiments.

After touching 14250 levels BTC moving to lower levels 12500 and and now braked 12500.

As previously mentioned, big support on closing basis 12500 now braked and touched 10250.

And now trading at 11050 levels. All long term stop loss hit after breaking 12500.

Both Daily and 4 hour charts showing weakness and can see more downside up to 9000 and 7500 levels.

Now once can see these levels soon and bounce can be up to 11750 and if big bounce then 14275, if not braked below 10500 levels.

All momentum vanished in this correction move. Now stratagy changed and short at any bounce near 14000 levels for now with stop loss 14500 on closing basis.

Now only downside for long investors. Who stuck can get out on upper levels with these small bounces for now.

previously mentions on daily charts showing some weakness and heading towards 12500 and finally braked.

After touching 14250 levels BTC moving to lower levels 12500 and touched 12775 at lower side.

Same as previously mentioned, big support on closing basis 12500.

On daily charts showing some weakness and slowly dragging towards 12500.

Now trading below 12500 levels bitcoin can see more downside.

Small bounces at lower levels can expect and again moving towards lower levels.

It will break to upward levels after breaking small resistance.

Bollinger Band

[Image source : poloniex.com]

Bollinger Band showing bottoms are braked and heading towards more downside..

Now Lower channel expands to downside and bounce can be till middle 13200 and 14800 levels.

These channels are expecting to squeeze here and then next move will make new rally.

But it took time for next move. For now only small bounce in lower channels.

BTC support and resistance :

Now all small support are vanished and next big support at 7500 levels and before these levels small support at 9000 levels in Daily charts.

For today this I have and for next move wait for some time, will update in my next article for Bitcoin Technical Levels.

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#btc #chart #forecast

7 years ago in #bitcoin by errajesh (62)

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lordtricky (46) 7 years ago

Sorry but its crashing and burning, it is being dumped to high heaven, if you want somebody to point the finger at, look no further than all the exchange sites, wrongly collecting users ID under the excuse of KYC when we are not customers... Roll on £0.01 per coin, maybe then the retards will stop attempting to extort ID that they were never getting... ;)

$0.00

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errajesh (62) 7 years ago

You are right, but we are trying to earn from the is speculation. Now every exchange is very strict with KYC norms. Inside what they are doing , no one knows.

$0.00

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lordtricky (46) 7 years ago

I know, the terrorists masquerading as guberment, have legislated KYC stupidity so people can collect ID and then get paid for what we call "subject access requests" What is annoying me the most is the fact that we are not customers of exchange sites so KYC does not apply, we are patrons of the exchanges, and customers of the exchange site other users, the exchange is simply an intermediary who we allow to take a fee from trades in order to cover their running costs.
Personally i am no longer playing with alts because of this ID stupidity, i have not needed to "verify" with exchanges for over 4 years, i will never be "verifying" with them, so they can't share my data illegally without my consent because they aint getting it.
I believe Bitcoin was created to destroy guberment, but the users of bitcoin are allowing guberment the abillity to centralise, regulate and destroy what was built to destroy them.
Honestly bring on £0.01 per coin, i hope they learn very expensive lessons with this 1 :)