Bitcoin to drop lower - but likely slower than before
Updated
BTC@7.270 right now broke the "second last" supportline. Still trending down above the longterm downtrendline momentum to the downside is fading - compared to prior lows.
Last upsidemomentum was during the G20 Meeting:
But follow by a fervals just days later:
Best case scenario now for hodlers and alt coin BTC would be a new low with lower momentum than seen before. Same time BTC should remain above the downtrendline.
Last upsidemomentum was during the G20 Meeting:
But follow by a fervals just days later:
Best case scenario now for hodlers and alt coin BTC would be a new low with lower momentum than seen before. Same time BTC should remain above the downtrendline.
Trade active
BTC @ 7.1k: Supportline broken - fast drop on typical technicla trading.For hodlers now important that downsidemomentum is fading as soon as possible. Also important is, that BTC will stay above the longterm major downtrendline.
Trade active
BTC @ 6.950: Typical technical selling after major supportlines are brokenUNCH:
For hodlers now important that downsidemomentum is fading as soon as possible. Also important is, that BTC will stay above the longterm major downtrendline.
Trade active
BTC @ 7.150 - downsidemomentum stopped, maybe:Trade active
BTC @ 6.690: Downsidemomentum continues.Trade closed: target reached
BTC @ 6.960: 2b bottom reversal possible. trading-naked.com/2b-reversal.htm
BTC montum is fading again - right now. The following trading day on sunday should give us more guidance. Actually it might be better to trade short only on very short time frame. Longer predicitions right now are unable.
Trade closed
opened @ 7.250
closed @ 6.960
-------------------
net gain 290 USD
re entry short @ 6,6k
no position long @ 7.3k
Related publications
Disclaimer
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.