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My2Sats
Dec 17, 2019 8:08 PM

BTC Update! Support caves, EMA resistance, 6.5k in danger! 

Bitcoin / United States DollarCoinbase

Description

Continued same old news.
Bulls cannot get above the resistance zone I had outlined.
Bulls cannot keep above EMA resistance.
Bulls cannot hold the 7k support we outlined last chart.
And now as explained last chart, once 7k caved, bulls would be in real danger of losing their 6.5k support. And here we are finding the bulls trying to desperately hang on and avoid another weekly lower low which would put price back to May 2019 prices.
On a weekly chart we are in a descending pattern here which bottom would be somewhere around 6.2k and if that failed, price would be in a bit of a free fall. I will insert that photo here to give an idea of what I am watching.




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