kamalzakhoy

BITCOIN-DAILY: The price hit the first target at 36,640!

Short
BITSTAMP:BTCUSD   Bitcoin
As shown on the daily chart, yesterday the price broke down the support at 40,517 with a big momentum, and went all the way down to hit the first target at 36,640. At this point the price may bounce back up anytime for the retracement on the daily chart. If the retracement happens now, we expect the price will bounce back up to the retracement zone between 40,500 and 37,500. Otherwise, the down trend will continue and the next support on the daily chart is around 30,000. The main trend on the daily chart is still bearish, and the best place to buy more with caution is anywhere between 32,000 and 30,000.

Also, I will try to post an update for the DOGECOIN and SHIBA, but as you can see, as long as the BITCOIN stays bearish, we should expect the same for both the DOGECOIN, SHIBA and all other cryptos. They are all tied to the BITCOIN most of the time.

Sorry for not being able to post all updates, I have been busy.

.......................................
GOOD LUCK

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.