Hi, I'm new so take everything I say with a grain of salt. (Trading less than 1 month.)
But heres my analysis.
We are currently in a bear trend. The oscillations are getting smaller, we are either breaking upwards or downwards.
I don't believe we have the momentum to break upwards. Also the bad news from China isn't helping with the upwards momentum.
If you bought at a high price and are getting nervous, just sit tight and prepare to hold for awhile. Selling at a loss in bitcoin is not profitable. (Pro-tip)
However, in the meantime, prepare for some drops.
I believe we will break through one suport and hit around 3315.
Buy for bounce and sell at around 3455.
This is just my guess so far.
But heres my analysis.
We are currently in a bear trend. The oscillations are getting smaller, we are either breaking upwards or downwards.
I don't believe we have the momentum to break upwards. Also the bad news from China isn't helping with the upwards momentum.
If you bought at a high price and are getting nervous, just sit tight and prepare to hold for awhile. Selling at a loss in bitcoin is not profitable. (Pro-tip)
However, in the meantime, prepare for some drops.
I believe we will break through one suport and hit around 3315.
Buy for bounce and sell at around 3455.
This is just my guess so far.
Comment:
I was wrong. Lol