If and only if the price violently breaks the red support then I would strongly urge you to consider exiting the market. This is a life line. It stems from the previous all-time high at $1,175 where it acted as resistance (12/4/2013).
If the red support is broken then the price could, and most likely would, fall to the blue support.
If the price breaks red, but climbs back up and finds support, then you could reenter the market with a tight stop loss at the red support.
If price goes to blue support, then it is an excellent entry point into the market for a long-term hold.
This entire post isn't intended to be investment advice and it shouldn't be construed as such.
If the red support is broken then the price could, and most likely would, fall to the blue support.
If the price breaks red, but climbs back up and finds support, then you could reenter the market with a tight stop loss at the red support.
If price goes to blue support, then it is an excellent entry point into the market for a long-term hold.
This entire post isn't intended to be investment advice and it shouldn't be construed as such.
Comment:
We do not want that red support to break!!
Somehow, I think it will hold but I could be wrong.
Somehow, I think it will hold but I could be wrong.
The reason for this is simple. The price could break the blue support as well.
Hopefully, the red support holds! If it doesn't, the entire crypto market will get wrecked. FUBAR (****** up beyond all recognition). That's not what we want.