Pivot point is 8864. Below Pivot point, we will experience a bearish scenario, above a bullish one.
BTCUSD broke the lower side of the purple triangle and dropped to 8400, closing at 9030. It is no more caged inside that violet triangle and it is free to drop further. There are only a few weak support levels and I expect a quick fall to 5511 and then a slower price decline when approaching 3230.
BTCUSD broke the lower side of the purple triangle and dropped to 8400, closing at 9030. It is no more caged inside that violet triangle and it is free to drop further. There are only a few weak support levels and I expect a quick fall to 5511 and then a slower price decline when approaching 3230.
Note
Below, we can see the outbreak out of the violet triangle in a 30 minutes chart. Additionally, we can see the Pivot point and the support and resistance levels. Right now, BTCUSD is around Pivot point, waiting for another down move.
Note
In the below 30 minutes chart, we can see the battle around the S2 support level. If this level is sustainably broken, BTCUSD will crash to the next support at 5511. Note
Bitcoin is in free fall right now. 
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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.