BTC is in an ending diagonal pattern and calculated measured move of ABC correction suggests a likely bottom support level is in range of +/- 8727.99. I have used 50% of my tethered USDT entering a position in BTC at 9080.00. I set a stop loss sale order at 8699.00 to minimize losses if support at 8700 is broken and BTC continues decline toward the 6100 support level. Long term trend lines (as seen on the chart) are likely support areas to watch for trend to reverse upward. IF 8727 support fails expect BTC to resume correction to 6000 range. IF 5900.00 is reached and breaks it is possible correction could continue to as low as 3900.00 or deeper as deeper moves cannot be excluded with info available at present although it is unlikely I believe we should move below 5900.00 at most.
Set protective stop loss orders always to minimize losses if support falls.
Good luck Crypto fans.
Set protective stop loss orders always to minimize losses if support falls.
Good luck Crypto fans.
