BTC has fallen to the level from that it hast started its rally in 2017. This is a strong support and it must halt; other wise BTC could fall very deep (heading to 3.550$).
But I think there´s still some hope.
1) the support has been tested and it was strong enough to stop the negative momentum
2) RSI is close to oversold area and in the long run this has been always the time for rising prices
3) Volume of transactions had been fallen from december 17 to june 18 - but since the beginning of june it´s nearly constant
so sellers and buyers hold the balance
4) there is a trend line as support coming from feb this year and just crossing the fib retracement 0 in a few days
Conclusion:
If the fib retracement 0 holds the course of BTC then this will be a very good buy opportunity. Watch it.
But I think there´s still some hope.
1) the support has been tested and it was strong enough to stop the negative momentum
2) RSI is close to oversold area and in the long run this has been always the time for rising prices
3) Volume of transactions had been fallen from december 17 to june 18 - but since the beginning of june it´s nearly constant
so sellers and buyers hold the balance
4) there is a trend line as support coming from feb this year and just crossing the fib retracement 0 in a few days
Conclusion:
If the fib retracement 0 holds the course of BTC then this will be a very good buy opportunity. Watch it.
Comment:
Comment:
I think we´ll see the decision in the next hours whether BTC will break the support at 5.750$ or stay above.