Regera
Short

BTC retesting $7200. Pray long term baseline support holds.

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Double top formed perfect "M" formation with textbook 20% dip in between peaks. Both peaks are well within 4% of each other. A temporary pullback occurs when bulls try to push higher despite staring an M straight in the face. It's a similar concept to an inverse cup and handle formation. There's some support around $8,300 however a retest of $7,200 appears likely to happen. The solid red line is a long term baseline support using 3 points. If the market wasn't fragile enough already, it'd be devastating if Bitcoin breaks below this support... whether it's in the next few days or in the coming weeks. It's the last and longest running baseline support. If lost be prepared for new lows and months of uncertainty until a new baseline is established. The 50MA and 200MA are converging and that's a bearish sign when the 50MA dips below the 200MA. Upper channel and baseline support are forming a symmetrical triangle and looks to come to a head at the Fib's 1 / $8300. This is significant because if it breaks downwards, say goodbye to baseline support.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out