As you can see, BTC still making a higher low since few days back, and it just now testing the purple trend line BTC just broke and went upside few days before...
Right now BTC could found it support in both the purple trend line and the red fibonacci level line... this would be a very strong support if you asked my opinion...
if somehow the downward pressure is very-very big, and both of this support break, $46000 would be my first target in the downside...
But still, it it breaks to the downside, it wont surprise me if it testing lower level such as the $45K level, the most important support still would be in the $44.3K (green line)
If it breaks, then a lower price target would be in play... Final resistance would be in around 41K-42K level... Which also what the creator of BTC stock to flow model said in his tweet...
But for now, I am just accumulating/DCA in project that I like and waiting to see how it will play out...
Dont stress out!!! it's just noise until it breaks serious support and resistance... hahhaha
#Keepitsimple
#notfinancialadvice
Right now BTC could found it support in both the purple trend line and the red fibonacci level line... this would be a very strong support if you asked my opinion...
if somehow the downward pressure is very-very big, and both of this support break, $46000 would be my first target in the downside...
But still, it it breaks to the downside, it wont surprise me if it testing lower level such as the $45K level, the most important support still would be in the $44.3K (green line)
If it breaks, then a lower price target would be in play... Final resistance would be in around 41K-42K level... Which also what the creator of BTC stock to flow model said in his tweet...
But for now, I am just accumulating/DCA in project that I like and waiting to see how it will play out...
Dont stress out!!! it's just noise until it breaks serious support and resistance... hahhaha
#Keepitsimple
#notfinancialadvice
Comment:
BTC just broke the first support, lets see if the second one ($46k) can hold it for now...