- BITCOIN CURRENTLY APPROACHING RE-TEST OF 9K
- IF 9K SUPPORT FAILS, NEXT STOP IS 6K REGION, THEN 3K REGION.
- POSSIBLE SLOW AND CHOPPY DECLINE" TO 3K OR LOWER
Call it doom and gloom, but Bitcoin is approaching a retest of 9k.
Next stops are 6k and then 3k price ranges. Will be a chopping ride down.
Another possible scenario is for Bitcoin to go back to 13k-16k range before shooting below 10k again.
Should 3k be met, can expect a period of silence for Bitcoin until the next surge upwards.
Bitcoin is full of surprises - I'm not shorting. Shorting Bitcoin scares the hell outta me.
** This information is for educational purposes only and is not advice for investments or trading **
- IF 9K SUPPORT FAILS, NEXT STOP IS 6K REGION, THEN 3K REGION.
- POSSIBLE SLOW AND CHOPPY DECLINE" TO 3K OR LOWER
Call it doom and gloom, but Bitcoin is approaching a retest of 9k.
Next stops are 6k and then 3k price ranges. Will be a chopping ride down.
Another possible scenario is for Bitcoin to go back to 13k-16k range before shooting below 10k again.
Should 3k be met, can expect a period of silence for Bitcoin until the next surge upwards.
Bitcoin is full of surprises - I'm not shorting. Shorting Bitcoin scares the hell outta me.
** This information is for educational purposes only and is not advice for investments or trading **
Comment:
Really taking it's time for price action!
Now approaching that 9k re-test. Doesn't look to be swinging back up to 13k/14k before this drop though that was definitely in the cards.
Now approaching that 9k re-test. Doesn't look to be swinging back up to 13k/14k before this drop though that was definitely in the cards.
Comment:
Bouncing off an old trend line (the thick red line) but I dont think that will hold.
I suspect it will bounce again off the thick grey line which connects two previous lows, but the next fib level 7k is my bet.
I suspect it will bounce again off the thick grey line which connects two previous lows, but the next fib level 7k is my bet.
Comment:
Price bouncing above the support line connecting two recent lows (grey) and an old upward trend line (red).
Comment:
Price bouncing above the support line connecting two recent lows (grey) and an old upward trend line (red).
May range in this blue area until following below 7k.
May range in this blue area until following below 7k.
Comment:
Previous support is now resistance (grey thick line) as the latest 4h candle opened below it.
Comment:
Next possible stops are 7k, 6k, then 4k.
Following 4k I expect a period of silence, and it may slowly trend down to 2k-3k region.
Following 4k I expect a period of silence, and it may slowly trend down to 2k-3k region.
Comment:
Breakdown down another fib level. Downward pace moving faster now.
Looking for the next candle to open in the grey area.
I don't think the price will rebound off the old orange trend line.
Looking for the next candle to open in the grey area.
I don't think the price will rebound off the old orange trend line.
Comment:
Potential retest of 9k. Should it go above, I'd expect a heads and shoulders pattern formation. If that happens then it's down to 3k.
The way it's going it's going I expect price action in 2-4 hours. Will be interesting to see if it does indeed price back up to the 12k-13k range, or bounce down from 12k to re-test 9k