BITCOIN: possible retrace back to 7k support line
Updated
This is something I dont wanna see tho. But as we couldn't hold the 9.4k support line and dropped to the 9 to 9.1k support line, a further drop down to 8.8k BTC is more likely.
We have strong support on the 8.8k level, but if it doesnt hold, if some people doesn't want it to hold, we have the next big support line at 7 to 7.1k.
I think this is the worst case scenario. To go sub 9k for BTC is already a hard punch in the face of the crypto market. Going again below 400 billion in total mcap would be just painful for the whole crypto community.
Then again, if we dont manage to break the 10k, and falling back to the main support line at 7.1k, this would also be a great short possibility. (maybe this was the plan all along?) *putting thinfoil hat on*
My target of 10.4k for the Consensus 2018 in mid may is still possible. Also the mid term target of 11.6k is likely to happen in the next 2 months either way.
Im sure, we will break the 10k line soon enough.. if not in the next 2 weeks.. then in the next 2 months. With all the good news lately, (nasdaq and NYSE crypto trading desk), this market will go into trillion mcap in the next couple of years! ;)
We have strong support on the 8.8k level, but if it doesnt hold, if some people doesn't want it to hold, we have the next big support line at 7 to 7.1k.
I think this is the worst case scenario. To go sub 9k for BTC is already a hard punch in the face of the crypto market. Going again below 400 billion in total mcap would be just painful for the whole crypto community.
Then again, if we dont manage to break the 10k, and falling back to the main support line at 7.1k, this would also be a great short possibility. (maybe this was the plan all along?) *putting thinfoil hat on*
My target of 10.4k for the Consensus 2018 in mid may is still possible. Also the mid term target of 11.6k is likely to happen in the next 2 months either way.
Im sure, we will break the 10k line soon enough.. if not in the next 2 weeks.. then in the next 2 months. With all the good news lately, (nasdaq and NYSE crypto trading desk), this market will go into trillion mcap in the next couple of years! ;)
Note
New support line building up as it seems.. we had a nice rebound on it at 9k BTC
Trade closed: target reached
Target of 6900 almost reached.. lets see if the expected bounce at the bottom support line will be with enough volume..
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