BTC pumped on the recent news from China about the government using digital currencies. This pump was right at the diagonal support(purple) which pumped it 40%. Now the price is in a down channel and has a support at around $8700. The purple channel is also bringing BTC back to the reaccumulation zone which is also the parabolic growth channel ( zoom out, yellow lines).
More money is currently flowing into BTC and any price lower than the current one is a good buying opportunity for the long term holders. There will be a large inrush of retail investors in the coming months.
*Note: This is not financial advise. Please do your own research.
More money is currently flowing into BTC and any price lower than the current one is a good buying opportunity for the long term holders. There will be a large inrush of retail investors in the coming months.
*Note: This is not financial advise. Please do your own research.
Trade active:
Touching 7300 support. Expecting a bounce here to 7900.
