Analyzing the 4h chart here, and following BTC after the EMA death cross that was illustrated in my previous TA. The first scenario which we all wanted (The Bitcoin supporters) the re-bounce on the deep support line Level 2 didn't hold enough, we can see a huge red candle in the couple previous hours with massive selling volume. Which leave us with the second and third scenario here:
- BTC without a doubt going to see a drop further to the Deep support level 3 around the 8K-7.5K zone , and that would be our last chance for the rebound and go back on track to save it.
-Scenario 3 (The death scenario) if we go below that last deep level support, this is when we going to see BTC going down to the initial first early lower level, going up from that level going to need a lot of work and definitely a lot of belief.
Other variable to get in consideration the RSI so far is oversold which also confirm more lower level and drop in BTC price.
P-s: As final words for now, This just a humble TA analysis, nothing is 100% accurate in life there's always an element of surprise to keep in your equations.
YB
- BTC without a doubt going to see a drop further to the Deep support level 3 around the 8K-7.5K zone , and that would be our last chance for the rebound and go back on track to save it.
-Scenario 3 (The death scenario) if we go below that last deep level support, this is when we going to see BTC going down to the initial first early lower level, going up from that level going to need a lot of work and definitely a lot of belief.
Other variable to get in consideration the RSI so far is oversold which also confirm more lower level and drop in BTC price.
P-s: As final words for now, This just a humble TA analysis, nothing is 100% accurate in life there's always an element of surprise to keep in your equations.
YB
