Bitcoin - where we may find bottom
It has been a while since I showed you the 3-day view which has a lot in info regarding the future. I've put two X's for the next support places that bitcoin is looking to visit before going up again. Price action just doesn't stop in the middle of anywhere it always eventually stops at strong support or at an MA. Right now it is sitting on support-- nothing too strong -- so it may not spend too much time there before melting down to the 50MA on the 3D to the $8,500.00 area which coincidentally it is the 50% Fibo retracement. The next X is on the 200MA which is on the 61.8 area which is also on a downtrend line. As you can see there is a lot of confluence and strong support behind those X's.
THE TREND: Going down.
THE OUTLOOK: Safe to enter and buy some alts, BTC will go down some more but not a lot more.
Be safe and follow me to stay ahead of the curve.
THE TREND: Going down.
THE OUTLOOK: Safe to enter and buy some alts, BTC will go down some more but not a lot more.
Be safe and follow me to stay ahead of the curve.
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