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RE: Bitcoin (BTC) Evening Update: Critical Support Juncture Approaches
Quote: ".........the lower white line support has been a strong one for quite a while"
Guys, take a good look at that chart! That support line is drawn completely wrong. It has to touch point 1 and point 3 but on @haejin's chart it doesn't. He uses the unlabeled point between 3 and 5 to draw that line.
Why is this important to know. Because when he had drawn his lines the right way it would have shown that this line already has been broken at the unlabled point.
The support line is about to get broken for the second time making it more and more weak!
Keep BTC at $ 5000,-- on the table. His "D" at almost $ 9.800,-- is probably not gonna happen.
Agreed. on my chart, it shows already broken. And if you change to 1 hour chart, it is clearer.
And frankly it is not exciting time for people hodling them especially all the way from the top. When price falling like this, most long traders will watch for signals, the only people are laughing are short sellers.