BTC at Crucial Support Area - Break Down? If yes, $5,000 soon
Updated
We are nearing our crucial support area at $6,700 area - we do not want a solid break here - this has been a long term upward trend support line and if we break it - we will crash hard.
If you're in Alts or Bitcoin this is something you need to watch carefully. In short term I see a bounce that occurred, that is very positive signs. Nevertheless, all market has been in red today. I believe in Bitcoin and think that we will overcome any FUD and downtrend, but just be alert if trading in this market.
Enjoy!
Invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
If you're in Alts or Bitcoin this is something you need to watch carefully. In short term I see a bounce that occurred, that is very positive signs. Nevertheless, all market has been in red today. I believe in Bitcoin and think that we will overcome any FUD and downtrend, but just be alert if trading in this market.
Enjoy!
Invest only what you can afford to lose or you're going right back to poverty on drop. We are not your financial advisors.
Trade active
I activate this trade for advanced traders - tight SL is requiredNote
Here’s my quick take on Bitcoin. We have 50% waiting for $100 Bitcoin and then the other 50% waiting for a 100K Bitcoin. All I can say is that from the looks of it, reversal is due at any time now. That purple line is a very crucial support because we have been hopping along it for several month now. I feel that if we break it in solid fashion, we may test a new low this year of around $6,000 - nevertheless I see that for now we are above it and actually had a bounce a few hours ago. It is definitely working for now.MACD is positive and RSI has room for growth. Moving Average is neutral at this point.
Note
More positivity today for BitcoinNote
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