BTCUSD: Long Term Support — I Suspect We'll See Lower Prices
It's really easy to get caught up in lower timeframe price action, especially when things are looking bullish. I want to play devils advocate here and point out a long term support line (purple) nobody seems to be calling out.
We haven't touched this long term support since May of 2017, and usually do after a parabolic advance is violated. The parabolic advance of the epic bull run of 2017 was violated in December, and we have yet to wick our purple long term support.
Taking a macro view, I suspect we'll see lower lows within a couple months.
We haven't touched this long term support since May of 2017, and usually do after a parabolic advance is violated. The parabolic advance of the epic bull run of 2017 was violated in December, and we have yet to wick our purple long term support.
Taking a macro view, I suspect we'll see lower lows within a couple months.
Comment:
Target clearly reached — New post calling for mid to high $2K bottom:
