Undoubtfully, the long-term techs and fundamentals are obviously bullish. My proprietary studies point out that we are in overwhealmingly overbought territory and the only way to avoid any major correction to the downside is that bulls manage to defend this support level.
In such case the upper line of this bullish channel is the next objective.
In the other hand if bulls fail to defend this support levels, risks are that such breakout to the downside plus any poisoning combination with the 4H and 1H 20MA might open a path for futher correction to the downside, down to the next support level.
Regards.
Alberto Alvarado
Ask me! | https://earn.com/iiivb/
In such case the upper line of this bullish channel is the next objective.
In the other hand if bulls fail to defend this support levels, risks are that such breakout to the downside plus any poisoning combination with the 4H and 1H 20MA might open a path for futher correction to the downside, down to the next support level.
Regards.
Alberto Alvarado
Ask me! | https://earn.com/iiivb/
Nota
At this stage is obvious that BTC long-term holders must start activating their previously planned contingency strategies in any case this adjustment goes deeper.Nota
More info on Steemit!:steemit.com/bitcoin/@iiivb/warning-read-possible-bitcoin-further-adjustment-to-the-downside
Nota
BTC Sell-off!!!According to my Dec. 19th analysis, price reacted with a wild sell-off as I proposed at the failure to defend the upper support.
At the moment we are just getting to test the first significant support zone; it's uncertain if this might be able to hold or not.
TradingView chart:
Original Steemit post: steemit.com/money/@iiivb/btc-sell-off
Regards.
Alberto Alvarado
Ask me! | earn.com/iiivb/
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.