Short

Bitcoin Breaks Down = Retrace (Support Where? $3740 - $3665 Firs

Updated

Bitcoin has finally started its retrace after much bullish action. The important part to look at right now is for support.

I've marked several support levels on the chart above with green dashed lines, and they go as follow:

BitFinex:

(1) $3949
(2) $3741
(3) $3593

Coinbase:

(1) $3865
(2) $3665
(3) $3523

These are the main support levels for Bitcoin (BTCUSD). If one level does not hold, we look for the next one.

We are aiming for at least our second support (2), knowing that BTCUSD will go as low as (3), most likely.

I will be keeping track of the charts.

Feel free to leave a comment if you have any questions.

Thanks a lot for reading.

Namaste.

Note

BitMEX (XBTUSD) Support level are equivalent to Coinbase, BitStamp, etc. Mainly BitFinex is different due to the USDT situation (they measure against USDT and not USD):

Note

Looking at the daily chart with support levels and potential bounce scenario:

- Note: For these bounce scenarios to play out, certain criteria first needs to be met. But this is a general idea.

- The green zone is the demand zone and double bottom zone if BTCUSD decides to move all the way down.

- If the demand zone/low is broken, then we look for support at lower levels. A new analysis will be shared with those levels.

Note

Bitcoin can go lower, wait for the right time to buy back in. We had a XBT LONG which we closed at $4,000 which generated over 100% profits. I will share a new one once the set up is fully complete with even higher profits potential:

- Bear volume is higher than all previous bull volume. Bitcoin will go lower.

Here you can see our XBT LONG, I will post a similar one once the set up is complete and you can earn easily... Patience is key!

[XBT][LONG][10X][104.9% ROE] @alanmasters

Note

Bitcoin Cash SV (BCHSVBTC):

Bitcoin Cash SV (BCHSV) Bounces Off Support

openANX (OAXBTC) (Round 3):

[Round 3] openANX Does It Again (Another Money Wave Is Coming)

Note

Latest update:

EMA50 Working As Support (Bitcoin To Continue Up - Stay Bullish)

AlanSantana

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