BTC - The Sellers won
Hello all,
Here is the chart of yesterday :
Here is the current chart :
We were having a fight yesterday on the support line at 10k£ and we have now the result. The sellers won and broke the support line. However, we have even a more powerfull support line around 9400$. We have a high chance to have a bounce on that support. If it is not the case, we could really start a down trend on the BTC but it is a little bit early to talk about that. Let's see the result of the market on that support line at 9400$.
I wish you massive profits,
Cryptopassion.io
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I think you accidentally forgot to include the second chart.
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mmmm Me I can see it
strange
Yes, in the end the 9,400 support is what really matters. Otherwise we are likely seeing the mid 8's and then around 7,600 in worst case. 10K has become more of a round number novelty as we humans love round number ;-)
Good consistent analysis, would love to have you on the scaredycat investor show on MSPWaves sometime. I do a crypto market check segment each week and talk to other investors/traders and the like.
Hehe thank you my friend. I will try to have a look at your discord group
Not my discord group, just where the show is hosted. You can find all the shows at http://mspwaves.com/
I'm always up to having a technical analysis discussion/debate. I have been trading markets actively for 20 years and was a full time prop trader for 5 years.
We can promo your steemit blog on the show as well. Hit me up, same name on discord as here. I see you run with some of the other steemit veterans that joined July 2016 like me.
its a classic bear trap, sellers are losing against the strong support.
i dont think its a bear trap as such, maybe more to do with institutions wanting a cheap cheap price to enter, or the fact that bitcoin has been so stubborn lately at 10k people give up hope. Or all this FUD about google super computer smashing SHA 256 by 2022.
likely the former. If I was a whale, and I'm not, but if I was and had the influence I would tank Bitcoin as far down as I could on the exchanges just before meeting up with a private Bitcoin seller to hash out a deal. Regardless, today's falling knife was well executed.
With the current volume, for sure it is not a trap...