Drawing a trend line from the October $85 low to the most recent bottom has yielded good short positions previously. Now we are at that same intersection again. If we consider the last two booms from April and November as one, the 88.6% fib retracement points down to $280 from here.
Comments
LastBattle
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It seems quite unlikely that it will fall further from here.
I don't see any bear wandering around, and the support is quite strong.
longbearcrypto
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Support is incredibly strong. Another indicator that we are in a clear uptrend is the MACD on the 3 day charts. 3 green bars for the first time since the downtrend began in December!!
I don't see any bear wandering around, and the support is quite strong.