in long term trend line it is getting support around $3500 - $3600 , It tested it 3 times in last one month, Tried to break but bounced back if it holds here then we can see quick bounce back if not then we can se downfall to $100 to $200 more from here & we can see it to $3400 - $3200
Again $3750, it is facing resistance in long term trend line , tried to break...
As per Fibonacci in 1 day chart, Bitcoin broke to its resistance at $4k and next resistance at $4400 then $4800 then $5200. Global stock market downtrend also supporting bitcoin.. support @ $4k then $3800 $3600
Bitcoin also testing Pivot resistance at $4200 once it breaks with good volume then $4400 and $5k will be major resistance
Finally bitcoin successfully closed above $3600 on weekly if it not sustain there then it might test short term support at $3400 $3200 and even $3000 , once break $3000 then can hit $2500 to $2700 by jan 2019, But good news is it is trying to break resistance at $3800 once it breaks then it can test $4100 and above in short time
As shared in our last chart and as expected BTC is trying to test $4000.
Btc come down to its 2nd Pivot Support If it breaks from here then $3800 will be the next support.
full chance for bounce back from $3800 to $4000 as if you see long term trend it is trading over trend line.
If it breaks 3rd support of $3800 then $3500 to $3000 possible
If we consider 4 hrs chart since the massive fall, and see the downwards trend then three things can happen,
1 Whales might dump it to $3000 arrow one
2 If downwards trend continues like this for a longer period then might be $2000 or $1500 will be possible but possibilities of this is very very less as $3500 then $3000 is a strong and sociological support .