BITCOIN Bears Back In Control As Supports Are Tested

exxodus (60)in #bitcoin • 5 years ago

Well, bears are back showing up strong and looking to push to a new low. Right now, supports are being tested at the $9,857 level. This will likely break as we are seeing increasing bull volume. At time of writing, current price is sitting just above the $10k level. If we do see a strong move here, this could turn into a double bottom bounce off of this support level. Overall, I'm still predicting a test of the actual support at $9,651 which would make a new lower low on the daily.

We're now in the second week of bears being in control on the weekly bar. We still have a bit of normalizing to do, so I do still ultimately think another test of $8k then $6k.

Hope you're all having a great Tuesday!