The TA of BTC is showing three possible support lines and the question is when will the bounce come and which support??? Right now the downtrend is looking like the first resistance is around 8400. If it breaks then head upwards. If it hits the resistance and heads down it is more likely that is will find the next support toward 7800-7900. Then if it will break that support next is the 23% Fibonacci Ret support around 7400 which is the most likely! Should it bounce well and good and if not more correction will follow and the next support will be around the 7000 area! Bouncing off the last support #btc should bounce and then head upwards and this will be when the crypto market will be bullish and new money will start to come in and confidence will start restoring gradually with new money pourring in from FIAT. Cryptocurencies are here to stay! BTC will prevail!!!
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BTC has now reached the second resistance around 7770 and it is still looking bearish . Seems like it will head towards 7370 and possibly even further down!
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BTC has now reached the second resistance around 7770 and it is still looking bearish . Seems like it will head towards 7370 and possibly even further down!
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We saw the bull run but bears are still present. After the G20 Summit news we may start to see a healthy incline of BTC or even a fast run to the moon. Either way the storm is about to pass soon and the party will start!
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As we can see BTC is reaching for the 61.8% fib and although facing some resistance it should be making bull run after another. 10K in a weeks time?? Let's see I'm hopeful it will!