What a retracement! BTC has sold off over 25% since its all time high at $19,900. The market is still looking bearish, but we are approaching strong support that could create a reversal.
Buy orders should be placed at the 2 month trend line around 13,300-13,500. There is the possibility of a panic capitulation beyond the trend line to 12,500. This is a strong support and should hold. Wait for reversal confirmation from the price, indicators (RSI, Stoch, MACD, etc), and watch for a volume spike.
Buy orders should be placed at the 2 month trend line around 13,300-13,500. There is the possibility of a panic capitulation beyond the trend line to 12,500. This is a strong support and should hold. Wait for reversal confirmation from the price, indicators (RSI, Stoch, MACD, etc), and watch for a volume spike.
Comment:
It looks like I posted this chart twice. It bugged out the first time I posted it, so I made another. Oh well. All updates will be posted to the other chart.
