mycotoxin

BTC - Worst case scenario, what happens if no bounce at 6200 ?

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
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2
Im still hopeful BTC can bounce at 6200

....BUT
if there is no bounce at 6200 then BTC can fall to 5800
falling past 5800 will open the door for a long slow drop down to the 2300 area.
Comment: I honestly dont see BTC giving up the 5800 support easily.
5800 is the last line of defense and its good support , its going to take the bears a bit of work to move lower than 5800.

Comments

That is where Jamie Dimon and Warren Buffet start looking pretty smart with their derogatory comments, huh? Crytpodisco has put out such a chart showing an 85% drop ending October 1st around 3,000. I think the bounce will come but expect it to be weak like all the others.
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mycotoxin Jrdelane
@Jrdelane, yup its looking weak , but lets not throw in the towel just yet .
BTC still has a chance to attempt a ( short lived) recovery before we hit the 5800 area.
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Jrdelane mycotoxin
@mycotoxin, I'm trying to stay positive, I took my final profits on Binance last night with the month's long bear flag threatening. I am cashing out the BTC even after the drop last night, survival mode. They have brought this market to it's knees, bastards.
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