Bitcoin Analysis (BTC) - Support levels on the downside
Looks like BTC is on its way down to the key support levels.
Please refer to the chart for the support levels that BTC price might descend to. The key areas are:
1. 14095
2. 12288
3. 10180 (I'm expecting a bounce from this level.)
4. 6825
Another thing to note is that the weekly RSI is already pretty low (30.61) so might see a bounce at around the current price level (15000's) up to the 18000 mark (might be a good level to go short) and then have another wave down in the current channel. If we break the channel (below 15400) we will see the retest of the other support levels pretty quickly.
Trade carefully and research on your own before making any trades. I'm not a financial advisor.
Cheers!
Please refer to the chart for the support levels that BTC price might descend to. The key areas are:
1. 14095
2. 12288
3. 10180 (I'm expecting a bounce from this level.)
4. 6825
Another thing to note is that the weekly RSI is already pretty low (30.61) so might see a bounce at around the current price level (15000's) up to the 18000 mark (might be a good level to go short) and then have another wave down in the current channel. If we break the channel (below 15400) we will see the retest of the other support levels pretty quickly.
Trade carefully and research on your own before making any trades. I'm not a financial advisor.
Cheers!