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blackmontrader
Dec 12, 2017 12:15 PM

BTC Daily support on any major correction.  

Bitcoin / U.S. dollarBitstamp

Description

No one knows with all the emotion of BTC and futures trading what ultimately price action can occur on BTC. That being said if BTC sells off in a correction we do not know if the cash will go into alts or go into USDT. I've been watching this market long enough to know that I know what I don't know and I've seen it work both ways. People think if BTC corrects alts will fly.....not necessarily....everything could just come down which is highly possible. At any rate I have charted BTC support on a daily chart where if we correct and come down to this level.....it's worth watching, if we bounce which most likely we would then you just look for a new trigger to enter, moving averages, squeeze on hourly time frame, etc. If we break this support then all bets are off as we will search for a new bottom. Not saying we sell off just giving price support if we do.
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