Looking at the charts,
BTC go up and down between pivot points and major support / resistance ....
if BTC doesn't break the ATH & 3month high 10058 soon
there will be another pullback.
and if it close under 8.8K .. 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 $$
las but lot least , and how much it can be shorted , this doesn't exist before 2017 ...
CME and major Exchanges futures VOL can be a good indicator. beware of last month friday liq ... lmao
just and idea,
Feel free to tell your own view on that ...
some key level to watch
52-Week High 13,844.30
14 Day RSI at 70% 11,095.54
1-Month High 10,058.62
13-Week High 10,058.62
38.2% Retracement From 52 Week High 10,055.23
Pivot Point 2nd Level Resistance 9,450.07
Price Crosses 9 Day Moving Average 9,425.03
Pivot Point 1st Resistance Point 9,316.65
High 9,309.51
Price Crosses 18 Day Moving Average 9,256.27
9,129.67 Pivot Point
Low 9,102.81 Low
Pivot Point 1st Support Point 8,996.25
8,926.89 Price Crosses 9 Day Moving Average Stalls
8,820.62 Price Crosses 18 Day Moving Average Stalls
Pivot Point 2nd Support Point 8,809.27
8,063.19 Price Crosses 40 Day Moving Average
1-Month Low 7,041.44
6,556.13 Price Crosses 9-18 Day Moving Average
6,479.61 Price Crosses 40 Day Moving Average Stalls
13-Week Low 3,925.27
52-Week Low 3,925.27
BTC go up and down between pivot points and major support / resistance ....
if BTC doesn't break the ATH & 3month high 10058 soon
there will be another pullback.
and if it close under 8.8K .. it might go lower and lower,
This depend a lot of different factors
the cost of one mined block is now above 13K, so how long it gonna last with an 8K price ?
how much Miners and Hedges can hold BTC without selling, to save their mining profit ...
if they sell more than the market can absorb, it will crash the price ..
If mining facilities can't pay next energy bill ( 3 months or 6 months in advance ) and shutdown, then #rate will fall for a week at least.
time needed to adjust BTC difficulty, meanwhile, Fees and unconfirmed T Mempool will skyrocket
and price will crash, because those who bought between 9 and 11k will rush to save the max of their $$
las 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
just and idea,
Feel free to tell your own view on that ...
some key level to watch
52-Week High 13,844.30
14 Day RSI at 70% 11,095.54
1-Month High 10,058.62
13-Week High 10,058.62
38.2% Retracement From 52 Week High 10,055.23
Pivot Point 2nd Level Resistance 9,450.07
Price Crosses 9 Day Moving Average 9,425.03
Pivot Point 1st Resistance Point 9,316.65
High 9,309.51
Price Crosses 18 Day Moving Average 9,256.27
9,129.67 Pivot Point
Low 9,102.81 Low
Pivot Point 1st Support Point 8,996.25
8,926.89 Price Crosses 9 Day Moving Average Stalls
8,820.62 Price Crosses 18 Day Moving Average Stalls
Pivot Point 2nd Support Point 8,809.27
8,063.19 Price Crosses 40 Day Moving Average
1-Month Low 7,041.44
6,556.13 Price Crosses 9-18 Day Moving Average
6,479.61 Price Crosses 40 Day Moving Average Stalls
13-Week Low 3,925.27
52-Week Low 3,925.27