Current Picture - Immediate Bounce and Long Term Ultimate Low
Updated
Hello Everyone,
I'll keep it as simple and clean as possible.
As confirmed by daily candles, the famous long term rising trend (the black line) is now broken, and bitcoin is most most likely due to a falling trend, which we are at beginning at the time of writing.
In the following week, we will probably be testing 5000-5123 immediate support zone, and it will create very very nice bounce opportunity leading large gains. Depending on the pattern, we will be trading the area between the blue text Resistance Zonce and green text First Support Zone for a considerable amount of time (few months at least).
The 3000 support on the other hand (Sep 2017 High + Beginning of the breathtaking rally at Oct 2018) at best scenerio, is a "must get tested zone" before a long term rising rally. We know all traders in the market watch these areas now and this makes these areas psychologically hugely significant.
May the luck be with us,
To be continued..
I'll keep it as simple and clean as possible.
As confirmed by daily candles, the famous long term rising trend (the black line) is now broken, and bitcoin is most most likely due to a falling trend, which we are at beginning at the time of writing.
In the following week, we will probably be testing 5000-5123 immediate support zone, and it will create very very nice bounce opportunity leading large gains. Depending on the pattern, we will be trading the area between the blue text Resistance Zonce and green text First Support Zone for a considerable amount of time (few months at least).
The 3000 support on the other hand (Sep 2017 High + Beginning of the breathtaking rally at Oct 2018) at best scenerio, is a "must get tested zone" before a long term rising rally. We know all traders in the market watch these areas now and this makes these areas psychologically hugely significant.
May the luck be with us,
To be continued..
Note
Correction: The 3000 support on the other hand (Jun 2017 High + Beginning of the breathtaking rally at Sep 2017) Sorry for confusion.
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