BTC/USD
After the sharp run-up of the past few days, Bitcoin (BTC) is taking a big decline from $8,400. It was facing close to the overhead resistance of $8,496.53. The digital currency took a correction from these levels down to the $7750.00 area.
Our main support on the downside is at $7,413.46 and if this level breaks, the slide can extend toward the $7,100.00 area. I expect one of these supports to stall the pullback. On the other hand if BTC/USD Reverses this slide. Ill be watching the $8400.00 area again,I still beleive that the BTC/USD pair is in bullish control . However, the currency can continue its slide and possibly slide to $6,000.00 area which suggests that the bears are in control in the short term.
Traders can keep the stop loss on the remaining long positions at $7,100. Ill will watch for the next two days and if the bulls fail to push the price above $8,400.00, If successful the coin breaks out of $8,400.00, it can move up to $10,000.
Do not take this seriously. RESEARCH IT FIRST.
Peace!!
Comment down what you think!! Smash the like if you like my ideas;)!!
EDIT: BTC dropped below support!!
After the sharp run-up of the past few days, Bitcoin (BTC) is taking a big decline from $8,400. It was facing close to the overhead resistance of $8,496.53. The digital currency took a correction from these levels down to the $7750.00 area.
Our main support on the downside is at $7,413.46 and if this level breaks, the slide can extend toward the $7,100.00 area. I expect one of these supports to stall the pullback. On the other hand if BTC/USD Reverses this slide. Ill be watching the $8400.00 area again,I still beleive that the BTC/USD pair is in bullish control . However, the currency can continue its slide and possibly slide to $6,000.00 area which suggests that the bears are in control in the short term.
Traders can keep the stop loss on the remaining long positions at $7,100. Ill will watch for the next two days and if the bulls fail to push the price above $8,400.00, If successful the coin breaks out of $8,400.00, it can move up to $10,000.
Do not take this seriously. RESEARCH IT FIRST.
Peace!!
Comment down what you think!! Smash the like if you like my ideas;)!!
EDIT: BTC dropped below support!!