BTCEUR to 4100-4500 EUR zone
Updated
Not trying to be pessimistic but there is a lack of volume on this "crash", so it does not look like a bottom.
We need to go back to the 2017 uptrend in log to find support levels. We just broke uptrend (C) and the 62% retracement.
If we look at the fib levels of 2017 advance we get a 78% retracement at 4100-4500 EUROS.
So we are not done, we need to see big volume when the US wakes up.
We need to go back to the 2017 uptrend in log to find support levels. We just broke uptrend (C) and the 62% retracement.
If we look at the fib levels of 2017 advance we get a 78% retracement at 4100-4500 EUROS.
So we are not done, we need to see big volume when the US wakes up.
Note
We are bouncing on the 62% fib retracement. while we had a big drop, the bounce back has lacked total strenght.
The MACD are still down as well as parabolic SAR.
I would not be holding here. We need to see a much stronger capitulation.
Note
breaking to 5200 EURO.We want to see even more panic selling down to 4000 euros to mark a bottom and at least see a "dead cat bounce".
I am looking for volume similar to the big green days in December.
If I can trade on the hourly or even smaller time frame, I would buy around 4200 euros.
Note
It went down to 4800 EUROS touched the trendline (B) and bounced.We need to get back up to 10000 EUROS and break (C) to enter into a long term bull.
closing this for now.
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