Hello Crytonians, today has been a day of panic in the market where BTC dropped quite a bit and also made the alts bleed along with it as we all saw. This is not the first time it has happened though, so nothing to panic about. Lets go through the chart which I call it the birds eye view. This weekly chart is giving us a basic idea of where BTC stands currently in terms of its direction.
As we can see we have a weekly support at 8137 level, and the diagonal resistance is also right underneath it. The whales have been playing really well so far. I have a feeling we are going to bounce from this intersection right here unless of course we see a massive sell off, and then we go to 7900 levels. But looking at the pattern here, this is a crucial support level for BTC.
Consensus 2018 is almost around the corner and this could also be a hint that we might see a new uptrend from around here.
Lets stick around and monitor the support level right here. If we break, and I hope and also think it is very less likely. But if the support line is broken, I will be updating a new chart with new support levels.
Stay safe in this market, and trade smartly.
I will always be here for you whenever needed. Join us in the groups below so that you can interact with me and the community, and also get the latest updates first.
Happy Trading People! Its Friday night, so don't drink and trade. I repeat, don't drink and trade.
As we can see we have a weekly support at 8137 level, and the diagonal resistance is also right underneath it. The whales have been playing really well so far. I have a feeling we are going to bounce from this intersection right here unless of course we see a massive sell off, and then we go to 7900 levels. But looking at the pattern here, this is a crucial support level for BTC.
Consensus 2018 is almost around the corner and this could also be a hint that we might see a new uptrend from around here.
Lets stick around and monitor the support level right here. If we break, and I hope and also think it is very less likely. But if the support line is broken, I will be updating a new chart with new support levels.
Stay safe in this market, and trade smartly.
I will always be here for you whenever needed. Join us in the groups below so that you can interact with me and the community, and also get the latest updates first.
Happy Trading People! Its Friday night, so don't drink and trade. I repeat, don't drink and trade.