A picture is worth a thousand words...
If history repeats itself, maybe we'll see
BTCUSD going down to the area marked with the red rectangle.
On the 4H chart, BTC is already touching the near-term uptrend that started on October 24th, and just 100 dollars away from the MA100. It it breaks those levels, a bigger fall seems likely.
Let's see what happens!
If history repeats itself, maybe we'll see
BTCUSD going down to the area marked with the red rectangle.On the 4H chart, BTC is already touching the near-term uptrend that started on October 24th, and just 100 dollars away from the MA100. It it breaks those levels, a bigger fall seems likely.
Let's see what happens!
Note
The short-term trend line has been broken, but the MA100 level is showing some resistance around $ 6600 - $ 6650. If we have another red candle closing below the MA100 on the 4H chart, the price might continue falling to the $ 6200 level (older uptrend) and then to $ 5800.
Note
$ 6380 @ 13:00 UTC. We are 19% down from the ATH.Note
Chronicle of a fall foretoldNote
$ 5850 @ 5.50 UTC. We are more than $ 2000 down from the ATH (- 26%).The price has fallen below the MA200 level, and it seems that the fall will continue as expected.
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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.