BitcoinShort
BTC/USD Update on Support Levels
On almost every time frame we started building a lot of -div over a long period of time, and it finally caught up with the bulls.
I'm showing the next major support areas where it can bounce, along with some serious -div that I have been watching for about a week now. There's an obvious M pattern going on, and it hasn't even broken the neckline yet so that's why I think we'll see sub 9k again.
Daily turned bearish yesterday when the candle closed as a red 1 count and then confirmed a short play when the low of the red 1 count was broken. You would have caught this sooner if you were looking at 2 and or 4 hour.
The ideal situation is that we bounce at around $8300, thus making a higher low. I see us going up to near $10,200 then dropping more from there.
I'm showing the next major support areas where it can bounce, along with some serious -div that I have been watching for about a week now. There's an obvious M pattern going on, and it hasn't even broken the neckline yet so that's why I think we'll see sub 9k again.
Daily turned bearish yesterday when the candle closed as a red 1 count and then confirmed a short play when the low of the red 1 count was broken. You would have caught this sooner if you were looking at 2 and or 4 hour.
The ideal situation is that we bounce at around $8300, thus making a higher low. I see us going up to near $10,200 then dropping more from there.
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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.