Bitcoin : how low and what supports are available?
Hello everyone,
I do not wish to be a bearer of the bad news but looks like if we do not go up soon from $6200+ , we might be heading downwards. Other major alts like ETH and LTC also do not show much promise.
Have a look at this analysis. BTC/USD. Daily chart. I don't like short term timeframes like 4-hours or 2 hrs because I am not a day trader.
I am not an expert but this is just my basic understanding of how supports work and is based on the market sentiment.
Also my apologies guys, I had already published this chart on June 26. Just re-adjusted the lines a bit.. but pretty much the same situation I see.
Comments, Suggestions are welcome.
Thank you.
PS: Not a financial advice, just my opinion only.
I do not wish to be a bearer of the bad news but looks like if we do not go up soon from $6200+ , we might be heading downwards. Other major alts like ETH and LTC also do not show much promise.
Have a look at this analysis. BTC/USD. Daily chart. I don't like short term timeframes like 4-hours or 2 hrs because I am not a day trader.
I am not an expert but this is just my basic understanding of how supports work and is based on the market sentiment.
Also my apologies guys, I had already published this chart on June 26. Just re-adjusted the lines a bit.. but pretty much the same situation I see.
Comments, Suggestions are welcome.
Thank you.
PS: Not a financial advice, just my opinion only.
Trade active:
The chart I published in August is still going as I thought.
I see a major support in $2200-@2500 area and should work as a bottom. Now the big players are coming into the scene, they might push the price further down .. who knows where. On the flipside, now the big players are coming, the short term price might fall sharply, but the long term future becomes more bullish than ever.
Wait and keep adding to your bag when you feel the price is right is my suggestion.
PS: Again: This is my personal opinion only and do not take it as a financial advice.
I see a major support in $2200-@2500 area and should work as a bottom. Now the big players are coming into the scene, they might push the price further down .. who knows where. On the flipside, now the big players are coming, the short term price might fall sharply, but the long term future becomes more bullish than ever.
Wait and keep adding to your bag when you feel the price is right is my suggestion.
PS: Again: This is my personal opinion only and do not take it as a financial advice.
Trade active:
This Aug chart is still in play.. currently visiting $3600 zone.. if it goes down, it might visit the $2400-$2500 area.
Higher chance of dropping further.
Waiting and seeing what it does in that $2400-$2500 zone, might be a smarter move.
Higher chance of dropping further.
Waiting and seeing what it does in that $2400-$2500 zone, might be a smarter move.
Trade active:
This crazy short bull run might take BTC to $5800 area before it meets strong resistance. Since no major support formed during this last few day's spike, higher chances of it crashing down once again if BTC fails at the 5800 level.
Lets wait and see
Lets wait and see
Trade active:
Perfectly hit my target of $4500 range.. I am expecting further drops. Lets see.