BTC_Dreamer

BTC heading LOWER 4 Levels to watch

BITFINEX:BTCUSD   Bitcoin
Simple tend line analysis. 4 lines to watch. Blue line has been support since July 2017 and and will land us at $7200 - 6950 range and is strongest IMO. Pink has been support since parabolic move started one year ago at $800 and would land us in 4.5k range. Orange line is support from November 2017 lows and would land us at $6580 range. Green line is most recent support since Feb 5 low and will land us at $7800 range I think we've very likely to bounce hard at the blue line ($7200 - $6950). $7650 -$7800 would be first attempt at a bounce to MAXIMUM the upper part of bear pennant ($8800 - $9000) but probably won't even get there with dead cat bounce and continuation to 7200 - 6950 region. I think $7000 is a nice round number to get a massive bounce from and possibly reverse.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.