sertacguven

Too much unnecessary FUD, only panic time is 2xclose below $7600

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
COINBASE:BTCUSD

Death crosses, "omg price going to $2800" analyses from people doing this for a living.. I see a different picture at the volume profile and fibonacci support / resistance analysis.

The price has been fluctuating for the past month between 9050 - 7750 range. At these two price points there is a confluence of very strong support and resistance lines. For example 7700 holds all time 0.618 fibonacci, which will be a bitch to take down. 7600 is also the Volume Area Low border since ATH , which was tested and very quickly rejected recently.

However, the price crossing the 7600 price and closing two days in a row below it would be a sign of stress and panic indeed, since it would be a Low Volume Node where the price can do very fast down movements. But we will cross that bridge when we get there. Until then, I think we should expect a up and down movement in the channel that has been established for the last month. Dont panic and sell before 7600!
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