chwi03

Low volume bounce, 15 minute MACD didn't even turn around

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Low volume bounce, not even enough momentum to turn around the MACD direction. ETH already starting to rise again. Will this hold?
Comment: Finally had some decent buying volume on this morning's second drop to around 13,600. Not expecting any more imminent drops below that point.
That was a pretty nice bounce off the 14,000 level. But still not enough to break this afternoon's short-term downward trend line. However, the RSI's on several time frames are supportive of a bounce here or at the 13,500 level.
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I think we're ready to fall to through 13500
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chwi03 bigdogg
@bigdogg, I didn't think that would hold! That fall below the 2nd yellow support line doesn't bode well. Do you think there's a chance of falling as low as 12,500 this go around?
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bigdogg chwi03
@chwi03, I have it dropping to around 11-13k (bitfinex)
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bigdogg bigdogg
@bigdogg, There is huge support and a 0.5 fib at 13500, but i see it crashing through it. Then making it's way back up to it after the panic sell.
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bigdogg bigdogg
@bigdogg, Could have a small bounce off it first time though... We'll see.
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chwi03 bigdogg
@bigdogg, Yeah, I have a hard time believing it will go below that without a bounce, but at this point am not entirely confident in "holding" 13,500. I see the next support levels on GDAX at 12,500 and 10,500 if we fall through 13,500. I guess we will find out in due time!
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