BTC has been trading in a triangle pattern (in orange on the chart) for some time now. Yesterday the pattern broke to the downside. BTC fell to the next support zone that is around 1950€. Currently that support is holding but should that one break we may have a dip all the way to the next support zone around 1750€.
As I explained in last week's post we have seen this kind of corrections already in January and March and I mentioned that this one was probably not over as this one seemed a bit mild compared to the large increase in price experienced in April and May. I expect prices to eventually head back up if the 1975€ support is not broken.
I like your levels and expectations. This is also the 4th (4th 1/2) attempt lower, and when markets are persistent, it's wise to listen.
I did a similar piece a few hours ago on the "broad market" that may interest you. https://steemit.com/trading/@cryptographic/crypto-in-freefall
Thanks.
thanks for sharing!
@erlik got you a $0.18 @minnowbooster upgoat, nice! (Image: pixabay.com)
Want a boost? Click here to read more!
This post received a 4.3% upvote from @randowhale thanks to @erlik! For more information, click here!
This post has received a 0.21 % upvote from @booster thanks to: @erlik.