jccarson

Mid-Feb Support Watchdogs

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
According to the fibonacci retracement points that everyone seems to be following, we rolled over the 61.80 ($8550) mark pretty hard the last couple days. Even though some people are claiming that the RSI is low, it's time to buy back. I would wait and see what happens to the next support line at $5500. I believe it will get there in the next week or so based on the acceleration of the downtrend and hit an RSI in the 20s which is significantly oversold and look for new buy-in opportunities. I will not be buying in until I see at least a day or two movement in the upward direction as the price could just as easily hit the 78.60 fib line, move sideways for a bit and then fall over again, confirming this sell off as a legitimate crash. Odds are this is the real crash and we will never see a PND             like the last year ever again in the cyrpto marketplaces. The markets will probably continue to rise but at a steadier pace than before, as the last year price increases were obvious signs of a bubble.
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