BITCOIN - HOW LOW WILL WE GO??
Updated
Hey Guys, Jumping right in, my last post I wanted to see how higher low will sustain but we continued to fall further down. We will need to see how low we go and see if this will be out higher low. BTC current support is 7500, 7200, 6900. The 4 hour chart shows a we will continue to dip a little more.The one day chart below shows us still trading in-between the downward channel. Look to test the 6900 support. The 1 day macd shows it's extended and searching for a lower higher low. lol. I still believe we are going to have a higher low form somewhere here.
Summary:
Weekly, 1 day, 4 hour charts show bearish macd signals. we could bounce here but I believe we will test 7200 support. Trade sideways, 7200 - 9000 range and after we will look for our higher high.
Summary:
Weekly, 1 day, 4 hour charts show bearish macd signals. we could bounce here but I believe we will test 7200 support. Trade sideways, 7200 - 9000 range and after we will look for our higher high.
Note
Close to the 7200 support which I believe we will bounce from by just glancing at the chart. Looking at it further on the 1 day chart, macd looks like it just extended it's stay for a little bit longer in this dip. Our 4hour chart looks the same and the dip will continue as it looks extended.
Note
On this 4 hour chart, if we continue to trade in the falling wedge I just drew out, possible we test the 7200 suport or 6900 and we break upwards.Note
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.