liberix

What goes up must come down (aftermath of a "failed" fork)

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
A picture is worth a thousand words...

If history repeats itself, maybe we'll see BITSTAMP:BTCUSD             going down to the area marked with the red rectangle .

On the 4H chart, BTC             is already touching the near-term uptrend that started on October 24th, and just 100 dollars away from the MA100. It it breaks those levels, a bigger fall seems likely.

Let's see what happens!
Comment: The short-term trend line has been broken, but the MA100 level is showing some resistance around $ 6600 - $ 6650.

If we have another red candle closing below the MA100 on the 4H chart, the price might continue falling to the $ 6200 level (older uptrend) and then to $ 5800.

Comment: $ 6380 @ 13:00 UTC. We are 19% down from the ATH.
Comment: Chronicle of a fall foretold

Comment: $ 5850 @ 5.50 UTC. We are more than $ 2000 down from the ATH (- 26%).

The price has fallen below the MA200 level, and it seems that the fall will continue as expected.
I agree with you buy it saw 5150$ do you think it is enough or do you think it will drop under 5000s and then bounce again?
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liberix peacewolfus
@peacewolfus, yesterday it reached $ 5555 and then it went to $ 6500 in a few hours, but the fall has resumed and now we are at $ 6000 again.

There seems to be strong support in the $ 5800-$ 6000 area, but unless we get above $ 6300 in the next hours I think that the downtrend will continue.

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@liberix, I hope it will because I sold them @5500 accidentally and I couldn't re-buy again :D
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peacewolfus peacewolfus
and I had 10 BTCs
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gravity does not apply to finance and economics... Bitcoin has no weight or mass.. lol. It does have WAIT...times, and MASSive fees.
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nice chart sir!
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liberix student_luis
@student_luis, thank you ver much!
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update ?
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liberix Strybie
@Strybie, we are already 18% down wrt the ATH, and the MA100 level was finally broken after a small bounce. I think that the next support is @ 6200 (that's an intersection with an older trendline). We have to wait and see what happens when we get there.
+1 Reply
Strybie liberix
@liberix, thanks
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