There is till a chance we could break down bearish again but that's not what I see. I feel like we have broken the bearish trend line for at least the short term. I have entered again on ETC and will exit as soon as I see another bearish movement.
Looking at the buyer sentiment, volume and moving averages. It looks like in my eyes that we are going to test the $5500-6000 support level. I'm hoping to put in more fiat at that area, but it doesn't mean we can't drop lower ! I just feel grabbing bitcoin at $5500 is such a discount considering a long term investment. Wish you all the best in trading and be patient!
We are reaching a critical point! If we pass the 200 day moving average we can be looking at a Bull Run coming soon! Keep a close eye on the critical point I circled. Hopefully the Bearish market is finally ended and we are heading toward months of upward movement.
I'm waiting to increase my position on Bitcoin around $6,500. Volume, trend line and 200 day moving average is not looking good at the moment. Buy if we move above the 200 day moving average or if we hit a major support level around $6000-6500.
We just broke through the last support level and came back below the trend line as well. Next support level is around $9500! Hopefully we don't go below that but the volume and buyer sentiment doesn't look good!
I have a feeling this is the direction CND is going. If you look at their graph they never have a huge slide down, after almost every correction they have a trend upwards. What impressed me the most is that CND climbed during the horrible past week the Crypto Market has had!