It looks like bitcoin has found a good amount of support at level (2). The support at level (2) has so far been a lot stronger than level (1). This maybe a good sign of a strong bottom. If bitcoin dips back below support level (2) there will be nothing to stop it getting to level (3). I believe the support at level (3) will be even stronger but hopefully that doesn't need to get tested. A breakout of the downward trend would be a clear indication of the ending to this dip.
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.