Today Bitcoin (BTCUSDT) starts with a break below support, but this break is small on little volume... Patience, it will recover.
It is common for us to see within the cryptocurrency market a 3 moves down pattern near support before a pair recovers.
Normally we see this move as an Inverse Head & Shoulders pattern but we can just say that there are three drops before the final lift off.
The second one tends to be the deepest but it varies and even with the variation as to which valley is the deepest a recovery follows after it shows.
We see MA200 at $18,275. This is the level to test on the short-term. By short-term we mean within 1 month.
Depending on how this level is handled, we can look for more. We are due to see a relief rally, some Altcoins are already moving ahead, soon it will be Bitcoins turn.
Visit my profile to find these altcoins and make sure to activate your notifications; hit boost, share, follow & comment.
We will have a good 1 year to position ourselves and then plenty of time to secure the profits of our trades... Plan ahead.
Start preparing; This is a long-term game.
After the bearish cycle comes a bullish cycle... Let's take advantage of this knowing.