From the chart, we see that we breached the longterm trend line. It could be a sign that we are going further down in a few days, or that it was a false break down.
However, typically on the past 2 crashes, we were following with strong buying volume as pointed out by blue arrows. Today there was not much buying volume as i would like.
I wouldn't place any long orders until we are clear above 10k and above our long term trend line.
I will update this idea if i get 5 likes.
However, typically on the past 2 crashes, we were following with strong buying volume as pointed out by blue arrows. Today there was not much buying volume as i would like.
I wouldn't place any long orders until we are clear above 10k and above our long term trend line.
I will update this idea if i get 5 likes.
Comment:
Bitcoin is sitting on the trend line currently. Still no short or long positions to be opened at the moment.
Comment:
Bitcoin is looking heavy.
Lets hope bitcoin can hold its previous low forming a double bottom. If not bitcoin is likely to fall to the 6k levels.
Lets hope bitcoin can hold its previous low forming a double bottom. If not bitcoin is likely to fall to the 6k levels.
Comment:
Still no buying volume, looks like we might touch down to the 6k levels.