FxDollarZz
Short

BTC - Price At Major Support - Watch Out For The Break

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has fallen from the $11700 level as anticipated and was able to break that $9000 structural support level . Price has now broken and closed under the 200 day simple moving average , which confirms a weak market and further downside potential. The descending trend-channel target is $5000 and is still valid. Now price has a major decision to make, we are re-testing the bottom of the ascending trend channel from last year that price has continually respected. I'm not so confident price will be able to respect the channel this time, and a break down here will be a major signal for a continuation of the bear market.


This was my idea from the last time we tested this channel just over a month ago:




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