A very technically important day!
Yesterday's candle closed in the shape of a hammer that usually appears at the end of a trend.
RSI has dropped below the 30th line which is usually also announcing the end of the trend.
Yesterday's candle closed right on the Fibonacci retracement 23.6 support line.
If the daily candle does not close green, then the hammer theory will fall, plus a drop below the above support line will totally confirm that Bitcoin is on the way to long declines!
Target: $ 8000
Yesterday's candle closed in the shape of a hammer that usually appears at the end of a trend.
RSI has dropped below the 30th line which is usually also announcing the end of the trend.
Yesterday's candle closed right on the Fibonacci retracement 23.6 support line.
If the daily candle does not close green, then the hammer theory will fall, plus a drop below the above support line will totally confirm that Bitcoin is on the way to long declines!
Target: $ 8000
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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.
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.