Bitcoin Price Drops
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Bitcoin analysis
I think this drop isn't that massive "so far", compared to the drops of past months.
Doesn't sure sure momentum to break 5800 in one go.RSI is seeing a bearish exit.
Please stop using bitfinex chart as it is constantly100 points off from all the other exchanges and another bitfinex volume has been dropping too much first.
Previous first resistance at 6347,which is a horizontal overlap resistance with 23.8% Fib
Now btc may 5870 support level, which is the support level that you have identified if price drops below 6.2633.BTC has broken triangle pattern, it is a good sign for altcoin.
Weekly chart 👉strong support at EMA100 5960 and
Monthly chart 👉 mid BB line is trying to hold BTC above 6300.
Disclaimer:Don't invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses.
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There is speculation that the last night drop is due to the 310 BTC challenge :D
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