MMBTtrader

BTCUSD is in range zone again breakout to downside and huge fall

Short
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Before starting lets take look at higher time frame and weakness :
As you can see important channel and support of Bitcoin broke and now after retesting that falling again is expected.

but for now this when we take look at 30Min time frame we can see that maybe market is reacting like previous time and this range here maybe is not sign of strength and rise and what is obvious is this that after breakout to down side we are looking for at least drop to green lines that mentioned on chart .
Green lines :

Targets:
A. 53000$
B. 51500$
C. 49400$
D. 46400$

DISCLAIMER:
1.trade carefully and have stop loss for sure
2.Past performance is not indicative of future results.


<<Traders comment below and let me know your opinion about this analysis even simple ((agree)),((not sure))>>
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Comment: daily candles are still waiting too if resistance break then uptrend :
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Comments

Way too early to be calling a big fall. BTC is respecting FIB channel and hasn't broken linear regression channel which is bullish. Short term you may be able to short it, not advisable though as the upside may swing up at any moment. Too much fear porn.
+2 Reply
MMBTtrader poidogofficial
@poidogofficial, lets see
Reply
GreenmanSA poidogofficial
@poidogofficial, Amusingly there is no hopium porn ;)... nearly every chart on alts had a big line going straight up... then Saturday BTC dump and now people are accused of throwing about fear porn... best to see both sides, would have saved many lots of money on Saturday. Looks like it is going down short term for sure, but hey, this is crypto so who really knows.
Reply
detail breakdown ) thx for sharing
+1 Reply
Great analysis as alwyas, Thank for sharing!
+1 Reply
i am out tp reached :


thanks for update
+1 Reply
MMBTtrader otaku-trader
@otaku-trader, most welcome and thanks for sharing
+1 Reply
CryptoCreepya otaku-trader
@otaku-trader, thank you so ZOROJURO-SAN
+1 Reply
Hello, very good idea.
Thank you!
Very detailed idea.
How do you think this will affect ALT/BTC in total and ETH / USDT, will it fall more than BTC?
+1 Reply
MMBTtrader Henry_Ross
@Henry_Ross, thanks a lot dear henry

and yes if btc break support as mentioned that would effect whole market too

and what do u think about long-term ?
+2 Reply