CRYPTOWATCH // 08: BTC gapped below bull market support
BTC LIVE CHART: gapped below the bull market support band, lets see how the market reacts to this in this new trading week. Here's where its at at the moment...
It is definitely not a surprise that BTC1! gapped below the support band exactly over the weekend; the market is being set up for a downtrend.
We might fill the gap and come down or even test the upper bull area around 52K but that would be very optimistic. A rejection in the band would be very bearish and unleash a unprecedented downfall of the BTC price. If we hold it as support we can see a new pump and with some hopium get back above 50K. Moment of truth this week - not only for BTC but also for the stock market. Time to be very cautious...
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
It is definitely not a surprise that BTC1! gapped below the support band exactly over the weekend; the market is being set up for a downtrend.
We might fill the gap and come down or even test the upper bull area around 52K but that would be very optimistic. A rejection in the band would be very bearish and unleash a unprecedented downfall of the BTC price. If we hold it as support we can see a new pump and with some hopium get back above 50K. Moment of truth this week - not only for BTC but also for the stock market. Time to be very cautious...
IMPORTANT: this is not financial advice, trade or invest based on your own risk and research.
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We are 3K away from dropping below a 40K BTC and people will be hitting the panic button.
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12 pips & a double bottom
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