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?
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.

@liberix, I hope it will because I sold them @5500 accidentally and I couldn't re-buy again :D
peacewolfus peacewolfus
and I had 10 BTCs
gravity does not apply to finance and economics... Bitcoin has no weight or mass.. lol. It does have WAIT...times, and MASSive fees.
nice chart sir!
liberix student_luis
@student_luis, thank you ver much!
update ?
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
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out