As expected Bitcoin found support at the 7800 level which was determined by lows from the 9/2/18 and 21/11/17 and the 2nd arc pair. I believe that support is going to break quite soon.
I expect minor support at 7200 which is the low from 18/3. Afterwards a move towards 6700 is likely where we will face the top of a square and more importantly the critical uptrend line formed by the low from 16/7/17 and 15/9/17. Please also note that we did not touch that trend line on the 6/2/18 which is why I could not really buy that a low was in.
The worst case scenario is a drop to 4200 were we will find heavy support established by the top of a square and the .786 fib retracement from the all time high of 19900. But I believe that will not happen anytime soon.
I expect minor support at 7200 which is the low from 18/3. Afterwards a move towards 6700 is likely where we will face the top of a square and more importantly the critical uptrend line formed by the low from 16/7/17 and 15/9/17. Please also note that we did not touch that trend line on the 6/2/18 which is why I could not really buy that a low was in.
The worst case scenario is a drop to 4200 were we will find heavy support established by the top of a square and the .786 fib retracement from the all time high of 19900. But I believe that will not happen anytime soon.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.