ElCapitaaan

BTC why you no Bounce?

BITFINEX:BTCUSD   Bitcoin
As you can see, Btc did not bounce, instead, it broke down. What to do what to do? to hodl or to short? seems like 5200 can be where the next play is. but then we also (almost) have a triple bottom. And counting in mining costs of around 6600 per BTC atm and 4800 6 months ago. Its very hard to know where this thing goes for the next few days, but if we do follow strict ta rules, we should be heading down from here to .0.786 on the fib, exactly where the "5200" ish support line is on the dotted line. On the otherhand as you can see stoch Rsi is at its lowest point and can basically only go up from here...
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.