100 day moving average possible support, looking for bounce to $12,800 and maybe $14,600

in bitcoin •  8 months ago

We certainly broke down but doesnt mean theres not a trade to be made. As stated in my previous posts the 100D MA been so close to the $10,000 mark would be a likely place for a bounce if we break down.

As we can see it may of done just that.

While the bottom of the cloud did seem to act as support for a few days, my other potential support point, the upper limit of the year long channel (yellow lines), didn't seem to do anything. So I will be discounting that in future analysis.

Bounce Targets

So if we get a bounce our targets will be the bottom of the cloud which is about the 38.2% fib and the 5D MA which lines up to the top of the cloud and the 61.8% fib.

Will close about half my long at each.

More Downside Targets

I still got more ammo to pull the trigger if we see further downside. Mostly I am looking at the bottom of the year long trend channel at around $8,000. This trend line has been tested multiple times and should be very strong support.

Thanks for reading.

KevinBacon





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If we are here for long term than this 10k price is also the best one for to buy btc,if we wait for 8k it may come but what if it doesnt give chance to buy you there.so accumulate BTC from here till it reaches 8k

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like I said buy here and then buy bigger at 8K

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What if doestn want to 8k .what if it bounced from 10k only ...so play smart play safe.

what do you think about sbd and steam prices are opposite each other?

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?? SBD is designed to be worth $1. It will be $1 again soon. Steem was up 700% in a few months, a retrace is in order