Bears chasing Bulls down to December support?
After a very long sideways btc took a cliff dive down to $255!
The price is currently moving down along a 45° angle with bounces
at key fib levels turning into increasingly larger Bull runs (Bull traps).
If trend line from December is retested and fails then serious doubt
about the much hyped technology could trigger another cliff dive down to $207.
If support at $268 holds then we might see a lot of sideways bouncing
between $268-$279. This could go on until the 6th or 7th January when
we reach the 3/1 Gann from $314.
Considering the general bear trend Bulls should have a hard time breaking that line.
Disclaimer: I'm not an investment advisor. These are just my personal thoughts about bitcoin price.
The price is currently moving down along a 45° angle with bounces
at key fib levels turning into increasingly larger Bull runs (Bull traps).
If trend line from December is retested and fails then serious doubt
about the much hyped technology could trigger another cliff dive down to $207.
If support at $268 holds then we might see a lot of sideways bouncing
between $268-$279. This could go on until the 6th or 7th January when
we reach the 3/1 Gann from $314.
Considering the general bear trend Bulls should have a hard time breaking that line.
Disclaimer: I'm not an investment advisor. These are just my personal thoughts about bitcoin price.
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