MagicPoopCannon

Red Alert! Bitcoin (BTC) Breaking Support!

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is breaking some key support levles, which could produce a wave of selling. On the four hour chart, BTC has lost the 200 EMA (in purple) and it is currently trading below rising support, as well as the 38.2% retracement level. Sell-side momentum is also increasing on the MACD , making further downside more likely. It is possible that BTC could fall all the way to the "Critical Support Level ," at the 50% retrace. If that level is breached, panic selling will probably engluf this market, and all of the crypto space with it. Definitely be on guard right now, and pay attention to your charts. If this thing starts to move lower, BTC could easily drop below $9,000. Trust me when I say, BTC bulls DO NOT want to lose that critical support level .

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-

I agree, market is nervous a sneeze on a keyboard or a stupid twit could trigger a landslide sale.
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I enjoy looking at the poo splatter, good stuff.
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@LARC, lol Great minds think alike! =D Please follow, if you haven't already. I would love to have you aboard.
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LARC MagicPoopCannon
@MagicPoopCannon, already following. How long have you been trading?
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@LARC, Nice! I've been trading for about nine years. I started with stocks, then I moved into options (which I still trade,) and now I'm into crypto.
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