BTC : Bitcoin approaching first logical level of strong support
The BTC rally out of the H&S pattern was strong, but unsurprisingly it has faded back considerably. We're still grinding out a base, and rallies will be sold. But current price levels are now just above very strong support of the old inverse head and shoulders neckline. $6800, plus or minus, has a great chance at providing support. If it does break, there are also multiple slightly lower levels that should be supportive. These are levels that I personally find appealing to begin dollar cost average purchasing again.
Ultimately, we are still in a bear market or, at best, a sideways market. Better long side days are ahead, but much of the pain should be in the past.
Not financial advice, DYOR, and all that... :)
Ultimately, we are still in a bear market or, at best, a sideways market. Better long side days are ahead, but much of the pain should be in the past.
Not financial advice, DYOR, and all that... :)
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