BITCOIN: THE DIP KEEPS ON DIPPING.
Hello traders,
Like I said in my previous update ‘the dip keeps on dipping’, well I guess we aren’t in the actual dip. BTC broke down the 28k support range which isn’t good at all. This is brutal for all the traders who went long on BTC and other altcoins and if it was on leverage then God saves them.
All our past trades hit the SL and after that, I went to ‘No trade zone’ that’s why I did not post any trade setups. It was just the BTC updates I have been posting.
Now, to analyze the current situation, I have this 8 hours chart which shows two support ranges. Support 1 at 27.7k and Support 2 at 25.45k. If BTC fails to hold the S1 level then we may possibly see BTC at S2. A close above S1 or the blue box will be a sign of relief for time being. The RSI is close to the oversold zone, the entire market is red, the F&G index is in extreme fear, the BTC.D is at the peak & the USDT.D is as well. All these indicate a rally to be coming soon. Until then don’t get rekt.
Thank you and have a rekt-less weekend.
Like I said in my previous update ‘the dip keeps on dipping’, well I guess we aren’t in the actual dip. BTC broke down the 28k support range which isn’t good at all. This is brutal for all the traders who went long on BTC and other altcoins and if it was on leverage then God saves them.
All our past trades hit the SL and after that, I went to ‘No trade zone’ that’s why I did not post any trade setups. It was just the BTC updates I have been posting.
Now, to analyze the current situation, I have this 8 hours chart which shows two support ranges. Support 1 at 27.7k and Support 2 at 25.45k. If BTC fails to hold the S1 level then we may possibly see BTC at S2. A close above S1 or the blue box will be a sign of relief for time being. The RSI is close to the oversold zone, the entire market is red, the F&G index is in extreme fear, the BTC.D is at the peak & the USDT.D is as well. All these indicate a rally to be coming soon. Until then don’t get rekt.
Thank you and have a rekt-less weekend.
coincall.com/r/43438887
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