Look at the heavy cluster of resistance. The death cross + the central pivot point. We need some serious volume to breach that.
If the current support levels don't hold, you see where the next support levels are. Scary ain't it.
Personally i am waiting for a spike down candle with huge volume to get in.
If we dont bounce off the support these few days, next target 4-5 k
If we break the 200MA on the daily, next downside target is 70-75 bucks. If we hold, its thanks to BTC not falling.
You simply can not ignore this technical breach test from below of the old support line. Where we are going to find support is up to the whales. Im thinking 200 MA of the weekly is a good level :D
Simply short it
We are breaching the 200 MA of the daily chart without any signs of slowing down. This has a decent probability to go to 200 euros.
Guys, everything is pointing down on the weekly chart. - The last weekly candle is red and engulfing the previous candle - We are below the 21 EMA, which i consider the mid point of any swing - ADX is cooling from and absurd level. Haven't seen it this high values ever in other markets (meaning extreme bubble levels) - MACD is pointing down from an absurdly high...
The daily chart is going down so I am selling off of the 21 EMA on the 4h chart. 6k target on the next leg down.
Hi all, this is the daily chart of bitcoin. I added the potential support lines for the price in green and a red line which I consider the first important resistance line that we need to break in order to break this bear cycle. So far we have made a series of lower highs and lower lows on the daily chart. If this continues you can see how low BTC can go.
Boys and gals I hate to say it, but we are now below all 3 moving averages on the daily as the ADX is accelerating and MACD is pointing down. Keep in mind that we are not even close to being oversold on the MACD. We are due to lose few thousand dollars the next month. Hopefully this wont turn in a weekly trend. If it does we are looking at another 2 year bear...
We have tested the current support line 3 times before. Could this be the time that we finally break it? General rule is that the more a line is tested the weaker it becomes. Should also add that the volume this time is quite low so we have a better chance of breaking the level.
Omg the chart looks disgusting. We are looking at 200 - 400 dollar ETH if BTC keeps going down.
When I strip all the unnecessary stuff from the chart, these are the two most likely support levels for BTC. I think sometimes from all the sentiment inflicted from other ppl we forget to look at the charts objectively. This market rhymes a lot with 2013 correction, when the chart faked the bulls and went lower.
We going down down dooown. Hope you are in cash to buy back cheaper.
If we break below 9k these few days, we are going down like a plane shot in the sky.