BTC has bounced near the support line that has existed since 11/15 of last year. MACD has just crossed over for the bad, and all other indicators are pointing towards more pain. A quick look at the longs vs shorts counter on bitfinex, also tells me there has not been enough pain for longs.
That being said, I see price moving below support and into the next level of support which is around $4600. This will have completed the market cycle chart and will allow us to finally continue moving towards progress.
That being said, I see price moving below support and into the next level of support which is around $4600. This will have completed the market cycle chart and will allow us to finally continue moving towards progress.
Comment:
Looks like its going to retest that support today... watch for a break or a rebound