Dear Traders,
BTC has just broken new support level.
Since the sentiment is very poor and the volume is decreasing, the next Support Levels will most likely also be broken. I have shown them in the BTC chart.
A support is actually psychological purchase or point of sale for traders.
If a support level is broken to a higher level, we can look at higher levels. This also applies to a downward trend, which we now see.
In the long term, of course, a bull run is possible. See my other Bitcoin analysis for this.
Thanks for your "support" by liking this idea ;)
BTC has just broken new support level.
Since the sentiment is very poor and the volume is decreasing, the next Support Levels will most likely also be broken. I have shown them in the BTC chart.
A support is actually psychological purchase or point of sale for traders.
If a support level is broken to a higher level, we can look at higher levels. This also applies to a downward trend, which we now see.
In the long term, of course, a bull run is possible. See my other Bitcoin analysis for this.
Thanks for your "support" by liking this idea ;)
Comment:
BTC is heading next small support. I expect volume will not peak so this symmetrical triangle will result in a new low. Next (small) support is around 2800. If there will come enough volume to result in a up it will retest previous support. We'll see what happen!
Comment:
BTC is hitting next support as mentioned earlier