cptknoet

BTC weekly

Short
BITSTAMP:BTCUSD   Bitcoin
Right now the support at about 7300 established by the breakout in January 2020 (upmost green rectangle) looks strong because the 100-weeks MA and the 0.618 fib retracement are in that vicinity (both at about 7200), as well. There is a chance price goes up from there. I am expecting more downward pressure if the up trend from February 2019 is broken. Well... and that sure looks likely with the turmoil in the stock markets raging on. I will be looking for an entry when the price reaches one of the remaining supports (lower green rectangles) which were established by the price break down in November 2018 and the subsequent recovery.
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