Bitcoin sinking like the titanic
Poloniex Chart, Timeframe 1Day=1Candle, Price at the moment 2086 USD
Dear Lazytraders,
If we manage to have a daily closing below 2168 USD then the trend is still continuing to the downside. We have already penetrated 1975 USD today but the trend has yet to prove its sustainability right now. Its even possible that we have a daily closing below 2012 USD which would signalize a further continuation into 1900 USD(higlighted with the red lining and yellow rectangle).
FORECAST
1: If we manage a daily closing below 2168 USD we have a sustainable further continuation into 2012 USD again
2: If we manage a daily closing below 2012 USD we have a sustainable further continuation into 1900 USD.
3: If we have a daily closing above 2168 USD we will see a sideways continuation
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Useful
Thank you @arturny makes me happy to see that people like the analysis.
Have a nice day! :)
looks like its approaching sideways....also its saturday, this is usually the trough day in the rolling 7 day trading cycle with Tuesday/Wed usually being the breakout days.
Thanks for your view on the things happening right now @frankenmint. We have yet to see how we are continuing into the next week. The uncertainty in the markets because of the scailing proposals sure take a toll on the whole crypto space.