Looking at the charts,
BTC go up and down between pivot points and major support / resistance ....
BTC doesn't break the ATH & highest points there will be a continuation of the pullback.
14D RSI 70% 11,164
1-Month High 10,058
13-Week High 10,058
My first estimate of lower 8.8K as pivot point was wrong.
I think now if it close under 8.5 and then 8.2 K .. it might go lower and lower ,
This depend a lot of different factors
the cost of one mined block is now above 13K , so how long it gonna last with an 8K price ?
how much Miners and Hedges can hold BTC without selling, to save their mining profit ...
if they sell more than the market can absorb, it will crash the price ..
If mining facilities can't pay next energy bill ( 3 months or 6 months in advance ) and shutdown, then #rate will fall for a week at least.
time needed to adjust BTC difficulty, meanwhile, Fees and unconfirmed T Mempool will skyrocket
and price will crash, because those who bought between 9 and 11k will rush to save the max of their $$
last but lot least , and how much it can be shorted , this doesn't exist before 2017 ...
CME and major Exchanges futures VOL can be a good indicator. beware of last month friday liq ... lmao
here why there is no reason for a bull run now .. the overall USD transaction value is just 2.63 times lower than Jnauary 2018 in value
api.blockchain....-volume-usd.png?timespan=a...
It's just an idea ,
Feel free to tell your own view on that ...
some key level to watch
9,215.74 High
9,159.36 Pivot Point 2nd Level Resistance
9,147.58 38.2% Retracement From 4 Week High
9,139.47 Price Crosses 9-18 Day Moving Average
Last 9,137.45 Last
9,129.93 14-3 Day Raw Stochastic at 50%
Pivot Point 1st Resistance Point 9,011.31
8,884.79 50% Retracement From 52 Week High/Low
8,867.25 Previous Close
8,866.16 50% Retracement From 4 Week High/Low
8,858.61 Pivot Point
8,807.22 Low
8,758.56 14 Day RSI at 50%
8,758.45 14-3 Day Raw Stochastic at 30%
8,743.71 Price Crosses 9 Day Moving Average Stalls
8,710.56 Pivot Point 1st Support Point
8,703.45 3-10 Day MACD Oscillator Stalls
8,584.73 38.2% Retracement From 4 Week Low
8,572.72 14-3 Day Raw Stochastic at 20%
8,557.86 Pivot Point 2nd Support Point
BTC go up and down between pivot points and major support / resistance ....
BTC doesn't break the ATH & highest points there will be a continuation of the pullback.
14D RSI 70% 11,164
1-Month High 10,058
13-Week High 10,058
My first estimate of lower 8.8K as pivot point was wrong.
I think now if it close under 8.5 and then 8.2 K .. it might go lower and lower ,
This depend a lot of different factors
the cost of one mined block is now above 13K , so how long it gonna last with an 8K price ?
how much Miners and Hedges can hold BTC without selling, to save their mining profit ...
if they sell more than the market can absorb, it will crash the price ..
If mining facilities can't pay next energy bill ( 3 months or 6 months in advance ) and shutdown, then #rate will fall for a week at least.
time needed to adjust BTC difficulty, meanwhile, Fees and unconfirmed T Mempool will skyrocket
and price will crash, because those who bought between 9 and 11k will rush to save the max of their $$
last but lot least , and how much it can be shorted , this doesn't exist before 2017 ...
CME and major Exchanges futures VOL can be a good indicator. beware of last month friday liq ... lmao
here why there is no reason for a bull run now .. the overall USD transaction value is just 2.63 times lower than Jnauary 2018 in value
api.blockchain....-volume-usd.png?timespan=a...
It's just an idea ,
Feel free to tell your own view on that ...
some key level to watch
9,215.74 High
9,159.36 Pivot Point 2nd Level Resistance
9,147.58 38.2% Retracement From 4 Week High
9,139.47 Price Crosses 9-18 Day Moving Average
Last 9,137.45 Last
9,129.93 14-3 Day Raw Stochastic at 50%
Pivot Point 1st Resistance Point 9,011.31
8,884.79 50% Retracement From 52 Week High/Low
8,867.25 Previous Close
8,866.16 50% Retracement From 4 Week High/Low
8,858.61 Pivot Point
8,807.22 Low
8,758.56 14 Day RSI at 50%
8,758.45 14-3 Day Raw Stochastic at 30%
8,743.71 Price Crosses 9 Day Moving Average Stalls
8,710.56 Pivot Point 1st Support Point
8,703.45 3-10 Day MACD Oscillator Stalls
8,584.73 38.2% Retracement From 4 Week Low
8,572.72 14-3 Day Raw Stochastic at 20%
8,557.86 Pivot Point 2nd Support Point