Bitcoin Close to Key Support Zone 9000/9300
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After my update yesterday we made a drop, but not how i wanted to see it go, was a bit too random. At the moment Bitcoin is flirting with the 9750ish for quite some time already, improving chances for the bulls. So unfortunately, this makes things bit more difficult again. Drawn a channel on the right, if it keeps moving inside that, then i think its still correctional and we will drop. If price breaks through it and with speed, then it becomes difficult again. Think anything below 10050 can happen. So again that level is the key level to me. We broke it few days ago, but it was nothing more than a trap though. That's why i think its still an important level.
So still think we need to make a new low at least, where a double bottom should be the minimum at 9350, but normally should be at 9100/200. Now yesterday's move did reach that level (9350), but that move looked more like a stop hunt though, so tough to say if that was it already. If so, than i am prob off with my view. Otherwise, even if we move up (max 10050ish), we will prob drop again.
For the mid-term, still not sure. Think we could make a much bigger drop, since the big dump we had 2 days ago looked a bit impulsive to me. But still bit too early to say.
Previous analysis:
So still think we need to make a new low at least, where a double bottom should be the minimum at 9350, but normally should be at 9100/200. Now yesterday's move did reach that level (9350), but that move looked more like a stop hunt though, so tough to say if that was it already. If so, than i am prob off with my view. Otherwise, even if we move up (max 10050ish), we will prob drop again.
For the mid-term, still not sure. Think we could make a much bigger drop, since the big dump we had 2 days ago looked a bit impulsive to me. But still bit too early to say.
Previous analysis:
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New Bitcoin analysis:
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