As you know, these are critical times right now. And anyone who is not familiar with trading, should leave this ship as a couple of holes have been drilled into this ship already. But you have to be aware, that things can incredibly speed up soon... if we should close below 50EMA on the weekly, this "bear-trend" will continue for the next year.
I am posting important support levels for the most important coins now which we can watch for possible short term reversals.
This will include BTC -6.54% ETH NEO LTC BCH
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We perfectly hit the first support level of 683. Happy for everyone who followes this chart.
Very interesting how all the big coins are consolidating with perfect textbook chart patterns. But, some patterns are not fully clear right now, so these can not built a basis for trading right now!! Some show us bullish reversal signs, some show us bearish continuation patterns. It is mixed up.
But the general idea of huge bitcoin drops almost always ends up in reversals. Drops like this should end up in 10-20% reversals. Meaning for the drop to 6666.67 of BTC The reversal could go to 7332 (which we already hit..) or up to 7999. Incredible hard to say what direction we are heading to.
Looking at BCC now, we are seeing a bullish falling wedge!
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But we have to see how this developes.
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Interestingly we are sitting at the very last support level that was available back nearly one year ago. Kraken seems to be off the table. Price currently on Coinbase at around 130$.
Interestingly we are sitting at the very last support level that was available back nearly one year ago. Kraken seems to be off the table. Price currently on Coinbase at around 130$.