The bull run was short lived and BTC is back inside the key downtrend. This chart is a "long" shot, and not a trading idea. This is simply based on levels of support and bitcoin's past volatility to the downside. If btc continues moving as it has done, it might reach prices lower than $5000.
Key support levels are $6800, $6400, $6000, $5800 and if this breaks, then we have $5400, $5000 and $4500.
Please post a comment with what you think bitcoin will do.
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Still bearish unless we cross and close above $7250
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6800 crossed, $6400 is next.
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$6400 reached, but this is an interesting point for a few reasons. 1) This is the low of April, and that means key support, 2) we have been "dropping" almost non-stop for 9 days, I think we might see some sideways action and a maybe bounce up to $6600-$6700. After that the down trend *should* resume and continue towards $6200 > $6000 > $5800.
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Ok, $6200... that was fast! A bounce is inevitable, don't fall for it
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900 point drop from when I posted this chart 4 days ago.
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We have support at $5800, if this level breaks in a significant manner, then we might be going towards low 5000s (i.e. $5200-$5400).
Thumbs up if you have made money shorting the corn :D