Dear Traders,
For those who looked at my previous BTC Ta's, you would know I told you about this scenario, that BTC was going to face another drop back to bigger support. Well it's happening right now.
Let's get straight into it.
BTC's next support areas have been marked on my TA, we have the monthly 55 moving average located around 3881$, and we also have the weekly 200 moving average located around 3134$.
The weekly 200ma would be the last big support and i'm pretty certain that would be the lowest point BTC will ever get to.
Keep in mind that this price drop is all about big hands selling off to be able to buy back very low. A lot of institutions are waiting to jump in, but they will only do so once the price reached the support levels I just told you about.
I can assure you that BTC will create a really strong reversal once price action hits one of these big support areas.
Please do check out my first TA's about BTC where I tell you everything about me knowing for a fact that this was to be expected.
Do not fair, this is all part of their plan.
Keep your eyes on the charts!
If you have any questions or any thoughts, feel free send me a PM or to comment on this TA!
If you'd like to join my Discord Channel to talk about stocks, share knowledge and have a laugh then please send me a PM so that I can link you to it!
Take care!
For those who looked at my previous BTC Ta's, you would know I told you about this scenario, that BTC was going to face another drop back to bigger support. Well it's happening right now.
Let's get straight into it.
BTC's next support areas have been marked on my TA, we have the monthly 55 moving average located around 3881$, and we also have the weekly 200 moving average located around 3134$.
The weekly 200ma would be the last big support and i'm pretty certain that would be the lowest point BTC will ever get to.
Keep in mind that this price drop is all about big hands selling off to be able to buy back very low. A lot of institutions are waiting to jump in, but they will only do so once the price reached the support levels I just told you about.
I can assure you that BTC will create a really strong reversal once price action hits one of these big support areas.
Please do check out my first TA's about BTC where I tell you everything about me knowing for a fact that this was to be expected.
Do not fair, this is all part of their plan.
Keep your eyes on the charts!
If you have any questions or any thoughts, feel free send me a PM or to comment on this TA!
If you'd like to join my Discord Channel to talk about stocks, share knowledge and have a laugh then please send me a PM so that I can link you to it!
Take care!
