Bitcoin analysis
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This is a short one only for traders.
The dotted line represents the resistance line. You see BTC is now fighting the line.
Its very difficult to predict the next move of BTC right now.
Therefore, its best for traders to place stop losses at 6400ish, the purple line from where we can get a bounce. If this line breaks, BTC will go down to $6000 levels where RSI will get crazy oversold on the daily chart!
Lets hope for the best.
Happy investing!
The dotted line represents the resistance line. You see BTC is now fighting the line.
Its very difficult to predict the next move of BTC right now.
Therefore, its best for traders to place stop losses at 6400ish, the purple line from where we can get a bounce. If this line breaks, BTC will go down to $6000 levels where RSI will get crazy oversold on the daily chart!
Lets hope for the best.
Happy investing!
Nota
So we did drop to $6100 levels. We can now see a relief rally towards $6600, BUT seeing to the rate of drop and lack of confidence lately, we can fall further towards $5900 and $5400 before we see a big bounce. Please use stop losses and place them tightly along the support and resistance lines.Nota
We are almost to our target now. See how the volume is not decreasing now from 27th May onwards. Although this is a good sign, but i still dont see any signs of reversal yet. Please use tight stop losses we might see $6800 soon. I still expect a fast drop towards $5900 level.
Penafian
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