BradMatheny

Bitcoin has reached short term support - Can still fall further

Short
BITFINEX:BTCUSD   Bitcoin
Bitcoin has followed my analysis almost perfectly. After rallying higher and rotating lower recently, the breakdown in price has fallen back into my Tesla arc analysis and appears to be basing near $6k before breaking lower. Don't expect another upside move till levels below $5900 are tested for support. Yes, another short term rally will happen, but it appears prices are seeking support below $6k before this happens.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.