20k support bait, flash crash incoming!
As shown by the yellow boxes, BTC has intense downward pressure - the likes of which we see in flash crashes, to be expected if our target is 17k-15.5k
I have lowered the potential price target for BTC to 15.5k because it certainly is within possibilities but i do not see 14k being hit YET.
19.8k is holding at present however weakly at best.
Expecting price to turn back downward on a 2nd 20.4k rejection sometime in the coming 6-10hours. At which we will be gunning for the 18k supports, i am not sure if we hit 16k on the weekend or Monday BUT we are heading to it either way.
20k holding is just bait, don't bite. A nice psychological level but nothing of substance behind holding that price.
We have seen this weekend action before on heavy negative news that hits Friday evening - traders will sell positions in anticipation of Monday loses to come as markets open/to cover margin calls else where.
Goodluck
Asset Mastery
I have lowered the potential price target for BTC to 15.5k because it certainly is within possibilities but i do not see 14k being hit YET.
19.8k is holding at present however weakly at best.
Expecting price to turn back downward on a 2nd 20.4k rejection sometime in the coming 6-10hours. At which we will be gunning for the 18k supports, i am not sure if we hit 16k on the weekend or Monday BUT we are heading to it either way.
20k holding is just bait, don't bite. A nice psychological level but nothing of substance behind holding that price.
We have seen this weekend action before on heavy negative news that hits Friday evening - traders will sell positions in anticipation of Monday loses to come as markets open/to cover margin calls else where.
Goodluck
Asset Mastery
