Bitcoin Fell 7% Yesterday But Could Be Rebounding Already (Video)
Bitcoin fell back to the support area around 10700 and today we have continued to fall a little bit more. Here is the daily chart:
Comment: Today we basically touched 10400 and as you can see from the chart, we do have support there based on the descending trendline.
Also, on the hourly, it does look like we could be forming a bottom here. This is no guarantee of course, but if we can get an hourly close above 10900 I do think we could charge higher again. Here is the hourly chart:
Comment: We do have somewhat of a rounded bottom here, these are usually more solid that V-shaped ones, but we will see.
Finally, if we will be able to go back up to the crucial level of 11700, I do think that we will succeed this time. It is just a gut feeling that I have and that would also be the third attempt.
Happy trading!
Hi freeforever, when do you see the volumes start to really ramp up?
I feel like we won't get a big wave of new money until Bitcoin hits a new all time high and starts to make media headlines again, what do you thinnk?
Oh thats really shocking news i was damn aure it will rise in March but it decreased . I do hope it will rise.
Nobody can predict about the trend for any cryptocurrencies.
Great article. I hope you are right and this isn't a double top forming. I need my BTC to move. Followed and upvoted.