Good morning all, checking in back on Bitcoin again today. Clearly the bear's have been in full control for a while now. We have had multiple flags in this down trend. But does it look like the bear's are running out of steam? I certainly think so, this area of 19-20K looks to be a very significant support level, the drop through the flag seems like it is running out of strength. So I think it may be a good time to buy back in now, because if this will be the bottom we will get a nice buy in price. We can either get in here or wait for a touch back in the demand zone below where you could get a smaller stop loss, either way we are looking for the swing up, stop under lowest low just incase. Will update again during next week GLIYF
Bitcoin is just killing me slowly, but the support is still holding. . . . for now
SikderTareq
⋅
The support level looks very promising. However, we must consider the bearish trend line in the weekly chart. If the price breaches that trend line, Bitcoin may get bullish and head towards the North with good momentum.
MomchilSlavov
⋅
At least it’s a good double bottom for now.
Treeny
⋅
Long overdue so hopefully you' right....
SikderTareq
⋅
The level looks good to hold the price as a level of support. However, we may not consider it as the bottom since the price has been very bearish. We must wait for a strong bullish move or a bullish reversal pattern to consider it as the bottom.