Bitcoin is getting very close to the bottom trend line I did fear if we broke down past 7500 zone there would be more pain to come..
Looking at a number of indicators now is telling me that there may be further pain to come if we fail to bounce at $7000-$7186 range then we will break out of the bottom trend line and see a further sell off that could quickly throw us past the $6500 range.
Don't want to say this too soon but get ready for some cheap cheap coins. We have just past the mark where larger miners cost of production may start to out strip reward I have been saying for some time we could see a paradigm shift in bitcoin if the price drops below the $6k range for any extended period where larger miners start switching off there equipment.
Stay safe and take profits when you can and be ready for cheap coins once again!
Looking at a number of indicators now is telling me that there may be further pain to come if we fail to bounce at $7000-$7186 range then we will break out of the bottom trend line and see a further sell off that could quickly throw us past the $6500 range.
Don't want to say this too soon but get ready for some cheap cheap coins. We have just past the mark where larger miners cost of production may start to out strip reward I have been saying for some time we could see a paradigm shift in bitcoin if the price drops below the $6k range for any extended period where larger miners start switching off there equipment.
Stay safe and take profits when you can and be ready for cheap coins once again!
Trade closed: target reached:
We called this one before time and we are glad we could warn our trading community's on telegram and discord.