Hello Traders,
We will review Bitcoin on a Daily chart view.
Let's turn back a bit on 14th of November where we saw the last biggest Sell-Off on Bitcoin.Market proved a lot of weak hands still standing there and waiting for growth... but eventually turned out that FUD/Whales and Weak Hands got us, where we are at the moment.
Standing in the middle of K(NO)W WHERE....
1. Descending Triangle was formed and popped out on 14th November
2. Fib Retracement helping us to determine Top and Bottom of this movement
3. As a bottom of this critical Bearish movement, I assume that the lower Support level is around 3200 USD per Bitcoin
3.1 If we got below the 3200 USD per Bitcoin mark, we will see NEW BOTTOM and lower lows.
4. We got a bit of Resistance since 14th of November and we got back to the 32.8 % on 28th and 29th of November.
4.1 Since then we headed again to the Bottom of this Bearish movement and we are currently standing around 3500 USD per Bitcoin mark.
5. Trend line is Bearish obviously, until other signals show us different information.
6. As previously predicted back on 14th of November, we will get to the Bottom of it at around 3200 USD per Bitcoin mark.
7. Stochastic is also in the K(NO)W WHERE zone, showing us that marked it Over-Sold
8. What is left for us Bitcoin Hodlers and Strong Hands, like you and me... Is to have a bit of faith and wait for market to recover, even if I estimate that we go lower than now! What I can suggest as an exit scenario is to Tether your investment until Bullish movement isn't identified.
If you have any question, please send me a message or comment below!
We will review Bitcoin on a Daily chart view.
Let's turn back a bit on 14th of November where we saw the last biggest Sell-Off on Bitcoin.Market proved a lot of weak hands still standing there and waiting for growth... but eventually turned out that FUD/Whales and Weak Hands got us, where we are at the moment.
Standing in the middle of K(NO)W WHERE....
1. Descending Triangle was formed and popped out on 14th November
2. Fib Retracement helping us to determine Top and Bottom of this movement
3. As a bottom of this critical Bearish movement, I assume that the lower Support level is around 3200 USD per Bitcoin
3.1 If we got below the 3200 USD per Bitcoin mark, we will see NEW BOTTOM and lower lows.
4. We got a bit of Resistance since 14th of November and we got back to the 32.8 % on 28th and 29th of November.
4.1 Since then we headed again to the Bottom of this Bearish movement and we are currently standing around 3500 USD per Bitcoin mark.
5. Trend line is Bearish obviously, until other signals show us different information.
6. As previously predicted back on 14th of November, we will get to the Bottom of it at around 3200 USD per Bitcoin mark.
7. Stochastic is also in the K(NO)W WHERE zone, showing us that marked it Over-Sold
8. What is left for us Bitcoin Hodlers and Strong Hands, like you and me... Is to have a bit of faith and wait for market to recover, even if I estimate that we go lower than now! What I can suggest as an exit scenario is to Tether your investment until Bullish movement isn't identified.
If you have any question, please send me a message or comment below!