Hello guys,
I take a look at the S&P and DJI charts, basicly they are in a situation like Bitcoin. S&P broke it's downtrend for a while but it went back to that channel and DJI broke it's downtrend as well but it is testing that channel right now. So, what we should expect bitcoin to do is that probably it will test it's long term down trend, if that support holds bitcoin, we will try to passover $11.750 to finally prove that we are bullish again. But if downtrend channel can not hold as support, we will go back to bear market and bitcoin will find its bottom between $3.300-5100.
So, trading is like a gamble for now. Watching the price can be the best option for you.
Trade Safe.
I take a look at the S&P and DJI charts, basicly they are in a situation like Bitcoin. S&P broke it's downtrend for a while but it went back to that channel and DJI broke it's downtrend as well but it is testing that channel right now. So, what we should expect bitcoin to do is that probably it will test it's long term down trend, if that support holds bitcoin, we will try to passover $11.750 to finally prove that we are bullish again. But if downtrend channel can not hold as support, we will go back to bear market and bitcoin will find its bottom between $3.300-5100.
So, trading is like a gamble for now. Watching the price can be the best option for you.
Trade Safe.