BTC seems to wait for main investors to either pump or dump. Long term chart shows the floor can be as low as 1.5k and the support approximately at 6k. Short term estimated range 7k ~ 8k
NOTES:
- This is not financial advice so please do your own diligent before investing
- Never invest more than you can afford to lose
- Technical Analysis is not pure science
- Market is not something that can be predicted accurately because of the behaviors of investors
Theory:
Technical analysis employs models and trading rules based on price and volume transformations, such as the relative strength index, moving averages, regressions, inter-market and intra-market price correlations, business cycles, stock market cycles or, classically, through recognition of chart patterns.
In finance, technical analysis is an analysis methodology for forecasting the direction of prices through the study of past market data, primarily price and volume.
https://en.wikipedia.org/wiki/Technical_analysis
The note you wrote is logical
Thanks
I think it will bounce back to $35k soon
Hopefully yea :)
Congratulations @maxsteem! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPTo support your work, I also upvoted your post!
You got a 8.00% upvote from @emperorofnaps courtesy of @maxsteem!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
You got a 2.38% upvote from @upme thanks to @maxsteem! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).
This post has received a 4.13 % upvote from @boomerang.