[ Trading ] Bitcoin going down again. Is this the last leg down?
Bitcoin has dropped about 3% in the last 24 hours. Yesterday Bitcoin was at $7616 and then it went down to $7382 this morning on Bitstamp. Currently it is at $7400 but looking weak. Are we still waiting for 6 June or will the final drop happen today?
I think that today will be the last leg down before the next rally to $7800. Everyone is waiting for 6 June, but I think traders will jump the gun today and tomorrow we will see a big up move.
Here is Dan from the Chart Guys and he called the last drop correctly. He is predicting $7200 low, but if this breaks we will see $7000 and if this breaks, free fall to $6500:
My Zukul trading robots are almost 100% loaded, so if we fall lower than $7200 I will have to close some of my lots and buy in lower.
Zukul Trading Robot dashboard on 5 June:
Do you think we are going down to $7200?
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I love Steemit and I have been blogging here since June 2017. I am always looking for ways to increase my Steem and SDB holding. Lately I have started trading bitcoin and altcoin using an auto trading robot. So far it is going well, and I am in profit. 😊
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Two days going down now. Time for the Bulls to buy in now.
Will be very nice to see a rally today
Sure Would!!
The Blue Bulls? LOL!!
The Blue Bulls are not doing well either these days. :)
The previous two daily candles have been very bearish, with the first being an engulfing candle to signal the reversal of trend. The bears have regained controlled and could easily push price back down to the $7,077 region and create a double bottom if its able to find support. The only region that price may stall with its current bearish momentum will be at $7,280 where price previous stalled.
I am 100% sure the Bulls will come out to catch Bitcoin at $7280.
The bears that sold at $7600 can buy in again at good discount today. I trust that @stevewakeham332 support at $7280 will hold.
Thank you @colinbrazendale. We will have to wait and see what happens over the next 24-48hrs but price will atleast stall here and attempt to find support, if not we will see price continue on its way down.
Oboy, I was hoping that we will test 7800 before we go down again. How low can bitcoin go in next wave down?
A retest of the $7,800 level is unlikely at the present time after we saw such a strong push away from this level over the past 48hrs. Its hard to say exactly where price will stop, however i don't believe price will fall any lower then $6,400, with this being the extreme bottom if we do fall to these levels. I have also posted a full analysis of todays chart on my channel if you're interested in having a read!
Today. However, quick rebound to $8000.
I like that optimistic outlook Cillie. :)
It's time to rise!
Yes!
My bots are ready and loaded for a rise. :)
Awesome
I think btc could head lower, but it seems to be following a trend line moving slightly up at the moment, we'll see if it holds.
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STOPCheaper bitcoins for everyone, this is good news! also should place a nice little short, I'm considering this for now....