Bitcoin is at a crucial step of it's pattern which has been on since November. We are looking at 2 points of potential bounce which is coming up in few days.
First bounce at firm support of our pattern will be $6,900 - $7,000
Upon break out of that pattern we will move to our support at ranges $6,500 - $6,100
Overall there should be absolutely no indicators to panic since we are just completing our pattern. If we look statistically, then yes, there is over 60% probability of us dropping below this pattern to newer lows, however crypto currency almost never follow regular stocks market patterns, meaning that you should not worry.
Enjoy this trade my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
First bounce at firm support of our pattern will be $6,900 - $7,000
Upon break out of that pattern we will move to our support at ranges $6,500 - $6,100
Overall there should be absolutely no indicators to panic since we are just completing our pattern. If we look statistically, then yes, there is over 60% probability of us dropping below this pattern to newer lows, however crypto currency almost never follow regular stocks market patterns, meaning that you should not worry.
Enjoy this trade my Crypto Maniacs, but remember to invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
Note
We are going straight for that support, let's see if we get bounce in between.Note
Insane dump - just wowNote
$750 in 24 hours - this is very interesting in terms of it's pattern. At this point we have dropped below our support line. Without quick recovery we will go to our $6,500 - $6,100 targets today or tomorrowNote
This is a great opportunity to short BitcoinNote
Here is a quick look closer to what we are seeing. This is not major support break if we recover today.Note
GIVE A LIKE IF YOU SHORTED YOU BITCOINNote
RSI is undersold, so short term sideways movement or a bounce may occur within 24 hoursNote
We are looking bullish again. Market is crazy guys, but uptrend is possibly starting. Tight SL if you want to invest. Enjoy it!Trade active
Note
We want to see $6,700 hold through 24 hours to confirm firm supportNote
I see this pattern which brings our bullish indicators up and gives over 55% - 70% chance of upward breakNote
We are closely watching this area now. If we break below $6,700 which is our current support level, we have several targets ahead - short your BTC if we drop below. Also keep in mind that RSI indicators a healthy bounce upwards, where as the bears are fighting for Bitcoin to be at lower levels. Current chances of us dropping below that area today would be around 55%Note
Note
We are still above $6,700 support - looks good as of right now - let's see how it will go overnightNote
If we continue upward traction, next target would be $8,400Note
Very nice movement hereNote
Look at new chart we published for more information will close this tradeTrade closed manually
Newer chart already publishedNote
Keep calm
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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.
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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.