The bull run was short lived and BTC is back inside the key downtrend. This chart is a "long" shot, and not a trading idea. This is simply based on levels of support and bitcoin's past volatility to the downside. If btc continues moving as it has done, it might reach prices lower than $5000.
Key support levels are $6800, $6400, $6000, $5800 and if this breaks, then we have $5400, $5000 and $4500.
Please post a comment with what you think bitcoin will do.
Key support levels are $6800, $6400, $6000, $5800 and if this breaks, then we have $5400, $5000 and $4500.
Please post a comment with what you think bitcoin will do.
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Still bearish unless we cross and close above $7250Note
6800 crossed, $6400 is next.Note
$6400 reached, but this is an interesting point for a few reasons. 1) This is the low of April, and that means key support, 2) we have been "dropping" almost non-stop for 9 days, I think we might see some sideways action and a maybe bounce up to $6600-$6700. After that the down trend *should* resume and continue towards $6200 > $6000 > $5800.Note
Ok, $6200... that was fast! A bounce is inevitable, don't fall for itNote
900 point drop from when I posted this chart 4 days ago.Note
We have support at $5800, if this level breaks in a significant manner, then we might be going towards low $5000s (i.e. $5200-$5400).Thumbs up if you have made money shorting the corn :D
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Potential fractal. I doubt it will play exactly like that, but something to keep in mind.i.gyazo.com/f1ef51f7b4ea05f597857531b8d3aa4e.png
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.