Is it far to fall?? Bitcoin analytics 09/11/18
Hi, traders! Our team decided to share with you ours ideas on the market.
As we wrote in our previous idea, the fall is probably will continue. The uptrend could not keep the price, so there was a breakthrough of support and even managed to form a local downward trend.
It is interesting to us that a local downtrend has formed, but the angle is very steep. Usually, such a fall is a correction of the past movement, but here is a controversial point, since the correction has already gone very far.
Observation shows that such trends with a very steep slope do not last long, while sales volume are falling. Oscillators are talking about a strong oversold, and the MACD went to bend over.
Based on what is written above, a break in this decline is possible at any time, but we admit the option of reducing to global support at 6250. We don’t admit it anymore, and we give 80% probability the stop should be there.
Thank you for your attention!
As we wrote in our previous idea, the fall is probably will continue. The uptrend could not keep the price, so there was a breakthrough of support and even managed to form a local downward trend.
It is interesting to us that a local downtrend has formed, but the angle is very steep. Usually, such a fall is a correction of the past movement, but here is a controversial point, since the correction has already gone very far.
Observation shows that such trends with a very steep slope do not last long, while sales volume are falling. Oscillators are talking about a strong oversold, and the MACD went to bend over.
Based on what is written above, a break in this decline is possible at any time, but we admit the option of reducing to global support at 6250. We don’t admit it anymore, and we give 80% probability the stop should be there.
Thank you for your attention!
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