OMG, PANIC, FUD, BLOOD or, reason, forecasting, smart moves.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
You choose guys, you can sell now or you can hold tight.
Before I really get into this if you zoom out the fractals on this arnt that bad, this was expected, dont get your pantys in a twist... without further due...

If you havnt already bought then I would hold off buying right now, btc does look to be dropping further as you can see via the chart.
If i was a betting man, which i am. I would make the informed decision that people are going to be searching for the next old resistance line and placing their orders there, as you can see its at the next fib level... this coincides perfectly with the old area which you can see highlighted in green.

Being the cautious trader that I am I would place my bets in the upper part of the green to avoid a premature bounce, however that being said its perfectly reasonable for it to dip in before bouncing.

I would however, remind you all that as the price dips further people start to get scared and sell, dont be like those people. accumulate and hold.

Remember though folks, this is not financial advice and any trades you take are at your own risk.

I, like all traders will be watching BTC -15.73% -3.41% and will take positions accordingly.

Stay frosty,
Moglli, out.

p.s check my last btc chart, you can see that i saw this coming.

Comment: I didnt check the rsi in this analysis, which is indicating massive over sell. my statements hold true however, now is the time you should be buying, not selling!

Related Ideas

We should see this kind of formation playing out, what comes next is entirely up to the bears and the bulls
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