Impressive end of weekend for BTC - we saw huge drop down occured from the “Global Downtrend Resistance” coming from $19.5K. Eventually the BTC price stopped at the last support at around $6.8K.
What we can expect now? If I focus only on technical indicators - downtrend will continue. All of indicators are bearish: EMA50/200 Death Cross, Bearish TK-Cross, Stoch is declaining. Also mentioned $19.5K resistance si still not broken.
Also remind us of 06.02.2018, when BTC price dropped down at $5.9K. We are not far from this price, so we can expect BTC to test this “double bottom” value again. So, be ready - it will be good opportunity to go LONG position.
Second option - BTC will stuck on market flat between $6.5K - $7.1K to get through $19.5K resistance.
What we can expect now? If I focus only on technical indicators - downtrend will continue. All of indicators are bearish: EMA50/200 Death Cross, Bearish TK-Cross, Stoch is declaining. Also mentioned $19.5K resistance si still not broken.
Also remind us of 06.02.2018, when BTC price dropped down at $5.9K. We are not far from this price, so we can expect BTC to test this “double bottom” value again. So, be ready - it will be good opportunity to go LONG position.
Second option - BTC will stuck on market flat between $6.5K - $7.1K to get through $19.5K resistance.
Comment:
Comment:
"So, dropdown! BTC is testing support at $6.5K now. Closing above $6 .5K will gives us hope for possible growth. On the other hand - closing below $6.4K confirm downward trend and first possible rebound at around $5.9K.
See updated TA - I add demand/supply zones, new important resistances and RSI look."
See updated TA - I add demand/supply zones, new important resistances and RSI look."
Order cancelled:
Due to $6.5K support failure!
Comment:
Check brand new Bitcoin TA:
