Bitcoin in a free fall looking for support. Next up 200D ema at $8968 (7% drop from current). Also in play is the 4h e2e Ichimoku Cloud where it would fall to $8600 (11% drop).
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Looks like a little bounce on the the cloud...altho may be short lived. Potentially would bounce up to $10,300 as as the 200 ema on 4h. There's a hidden bull div on the 4h, which could contribute for this bounce...
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I still wouldn't be very surprised to see a wick drop down to 8600 by morning. I am personally playing this one cautiously. If you feel it's going to bounce up, can always buy a % of your cash reserves vs looking for all in one shebang.
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Some possible scenarios (A & B) if this indeed does bounce off of that downward trend line.
The channel seems to be widening (lower lows, lower highs = bear obviously) and the time and range of the bounces seems to be about doubling -- as you can see from my price & time range.
I have fib retracement (.618) and a confluence of Daily indicators for support if bounces from the current downward trend line.
The channel seems to be widening (lower lows, lower highs = bear obviously) and the time and range of the bounces seems to be about doubling -- as you can see from my price & time range.
I have fib retracement (.618) and a confluence of Daily indicators for support if bounces from the current downward trend line.
here: 4h