End of this misery in Q4 around October possibly. Should expect some support around the 2017 top ~19k. Buying opportunities below towards end of descending triangle. Will need to consolidate for a while.
Recap & News
Obviously, 44k support didn't hold up so well against the bears. China declaring all crypto transactions illegal, as well as recent SEC hearings didn't help the cause. SEC Chair Gary Gensler recently stated that the SEC has no intention on banning crypto, which was a relief for users after the recent China ban. However, there is ongoing deliberation...
Added some additional support lines, upcoming moon cycles and Q4. After the Litecoin/WalMart fiasco earlier this morning, 43.5k support only broke by $125 and seems to have recovered well so far. Adjusted diagonal support line to account for the drop, which extended squeeze length.
Building support at 44-43.5k level. Next large move around beginning of October. Watch for MA cross and deviation above or below trendlines. Lowest support at 29.5-30k.
