cptknoet

cptknoet Updated 

possible break-down target

cptknoet

probably breaking down before breaking up

cptknoet

Right now the support at about 7300 established by the breakout in January 2020 (upmost green rectangle) looks strong because the 100-weeks MA and the 0.618 fib retracement are in that vicinity (both at about 7200), as well. There is a chance price goes up from there. I am expecting more downward pressure if the up trend from February 2019 is broken. Well... and...

cptknoet

bitcoin failed to exhibit any signs of a safe-haven asset in the last few days but declined in unison with stock markets on fears a pandemic might hit the world economy hard. If the stock markets keep falling this week, bitcoin may very well fall with them. It is hard to tell where the price may go though.

cptknoet Updated 

bearish ----------- - shooting star candle in the daily chart indicates short-term downward pressure bullish ---------- - finished forming a bottom spanning six years with the first indication of an inverted yield curve - central banks may be forced to print even more money due to ... + corona-virus-related quarantines and travel restrictions slowing down the...