I posted this chart before, however I think the font-sizes I used were not big enough for people to read properly. That's why I updated a few things and am sharing this with you.
With the recent bearish retest of the $8750 price levels, the $7350 is the first obvious support on the way down. This coincides with the 0.618 fib retracement level drawn from the previous bottom around $3300 to the top of end June around $14000. Though I don't think this level will hold, the price will definitely bounce from it to test $8000 again. $7350 could provide a good long opportunity (invalidated below $7000).
The ultimate long however will be around $6500. This level was key support after the crazy bull-run in 2017. The break down of this level lead us to $3300k. Now that we're clearly back above it, it should act as a strong support. Otherwise things won't look good for Bitcoin .
Note that it's not precisely $6500, consider the green box for a long, layer orders appropriately.
The yellow line drawn is a possible (and ideal scenario). It doesn't mean PA will exactly follow this. The yellow line is there to make support and resistances clear.
* THIS IS NO FINANCIAL ADVICE
** LESS IS MORE, DON'T OVER-COMPLICATE THINGS
With the recent bearish retest of the $8750 price levels, the $7350 is the first obvious support on the way down. This coincides with the 0.618 fib retracement level drawn from the previous bottom around $3300 to the top of end June around $14000. Though I don't think this level will hold, the price will definitely bounce from it to test $8000 again. $7350 could provide a good long opportunity (invalidated below $7000).
The ultimate long however will be around $6500. This level was key support after the crazy bull-run in 2017. The break down of this level lead us to $3300k. Now that we're clearly back above it, it should act as a strong support. Otherwise things won't look good for Bitcoin .
Note that it's not precisely $6500, consider the green box for a long, layer orders appropriately.
The yellow line drawn is a possible (and ideal scenario). It doesn't mean PA will exactly follow this. The yellow line is there to make support and resistances clear.
* THIS IS NO FINANCIAL ADVICE
** LESS IS MORE, DON'T OVER-COMPLICATE THINGS
노트
Bitcoin going for that 0.618 area I mentioned. Let's see how it will react.노트
Woah, what a reaction from the mentioned level. Mu levels are respected very well (in red).
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.