Hello,
I want to share my idea with you guys.
First i drawn a red triangle, with the support line from 15.09. Then a second orange one, with support line from 12.11. Both held well in 06.02, and were further reinforced in 18.03.
If the red support line holds, we may see a breaktrough upside, potentially 11.4k, where major resistance is. If it doesn't, we may bounce off the orange one and break above. If the orange one is broken, we may fall in an area with little resistance, I drawn a line from december at wich level BTC held in february.
Judgins strictly by the RSI, we will soon be in an oversold state, which makes me think that one of the 2 lines will hold. I think a fall below is possible only if some major FUD news come alive.
If I made any mistakes, feel free to criticise me. I only want to learn more.
Good luck everyone!
I want to share my idea with you guys.
First i drawn a red triangle, with the support line from 15.09. Then a second orange one, with support line from 12.11. Both held well in 06.02, and were further reinforced in 18.03.
If the red support line holds, we may see a breaktrough upside, potentially 11.4k, where major resistance is. If it doesn't, we may bounce off the orange one and break above. If the orange one is broken, we may fall in an area with little resistance, I drawn a line from december at wich level BTC held in february.
Judgins strictly by the RSI, we will soon be in an oversold state, which makes me think that one of the 2 lines will hold. I think a fall below is possible only if some major FUD news come alive.
If I made any mistakes, feel free to criticise me. I only want to learn more.
Good luck everyone!
Comment:
We need to close the day above 7500 to bounce. Otherwise, no other support until 5900 area.
Comment:
I was wrong! But actually I am glad that i was wrong. A small bounce would only mean unnecessary delay. The sooner we get to the real bottom, the better. No need to delay this correction any further.
The bubble is almost burst, but the market is light years faster than what we had until now. Let the healthy recovery begin! This bubble would be just a hairpin on the next year's bitcoin chart.
The bubble is almost burst, but the market is light years faster than what we had until now. Let the healthy recovery begin! This bubble would be just a hairpin on the next year's bitcoin chart.