Hello Friends, Traders and Interested,
as I promised in my past TA ( I am really a bit proud, this TA works quite good, .....sorry for the bulls of course) now an update to BTC.
So, we ve seen BTC falling quite hard today. It s broken under my two support lines, shown in my past TA. And I said, if we should fall under these lines I will be here to post an additional TA.
The next 3 Hours we have to take an intense view on the day-candle. Actually we see, that the day candle is under my last - the red support line-.
But,...... the day is not over. Should the price go upwards the next 3 hours, the BODY of the candle could close again inside the support area. So we would only see the candles pin under the support line. This would mean we broke down, but not confirmed. In this case we have to wait what the next candle will do. If the next candle will close with the body under the support line, BTC -downtrend is confirmed and we have to expect further downtrend.
But what does further downtrend mean?
Where will we go?
BTC ded?
End of crypto?
Hmmmm, in my opinion, not really, but it will be difficult to get back interest, support and trust from investors. But actually BTC is not ded.
Into the chart again. As you can see there are three lines I put to the chart. Pink, green and black. Pink shows ( 6.4 K) us the last bottom and could act as a double bottom. If this line will not hold we might see the green line ( 5.8 - 6 K). This would be the bottom of February and nearly the start of the big rally in Nov. 2017.
If this line will also not hold, yes, than it will get very dark. Next stop is around 4.5 - 4.7. But this can be discussed if we "must" reach this point. I hope of a bounce from here. The next Hours will show, if we can still hope not to go down much more.
I will be here and update this TA.
As always, no trading advice, trade safe and trade on your own risk.
All the best to you all,
Sascha
A Like and a Follow makes me happy.
as I promised in my past TA ( I am really a bit proud, this TA works quite good, .....sorry for the bulls of course) now an update to BTC.
So, we ve seen BTC falling quite hard today. It s broken under my two support lines, shown in my past TA. And I said, if we should fall under these lines I will be here to post an additional TA.
The next 3 Hours we have to take an intense view on the day-candle. Actually we see, that the day candle is under my last - the red support line-.
But,...... the day is not over. Should the price go upwards the next 3 hours, the BODY of the candle could close again inside the support area. So we would only see the candles pin under the support line. This would mean we broke down, but not confirmed. In this case we have to wait what the next candle will do. If the next candle will close with the body under the support line, BTC -downtrend is confirmed and we have to expect further downtrend.
But what does further downtrend mean?
Where will we go?
BTC ded?
End of crypto?
Hmmmm, in my opinion, not really, but it will be difficult to get back interest, support and trust from investors. But actually BTC is not ded.
Into the chart again. As you can see there are three lines I put to the chart. Pink, green and black. Pink shows ( 6.4 K) us the last bottom and could act as a double bottom. If this line will not hold we might see the green line ( 5.8 - 6 K). This would be the bottom of February and nearly the start of the big rally in Nov. 2017.
If this line will also not hold, yes, than it will get very dark. Next stop is around 4.5 - 4.7. But this can be discussed if we "must" reach this point. I hope of a bounce from here. The next Hours will show, if we can still hope not to go down much more.
I will be here and update this TA.
As always, no trading advice, trade safe and trade on your own risk.
All the best to you all,
Sascha
A Like and a Follow makes me happy.