Dear Friends,
I'm going to stick my neck out here and call a bottom.
I think the drop before this last one.. was a hard fight for bears to drag it back down.. they did and weak hands panicked again... to bring us the largest volume on any drop yet.
This huge volume on this last drop, also corresponded with the smallest drop % wise of all the previous drops (hourly time frame).... Bitstamp also 100% fully retraced.
We are also are some quite major technical supports, including @SnowSilences 365 ema on the daily.. and I'd like to point out the weekly 60 ema.
Given all this factor I would say there is a high probability right now that this will serve as a reversal point... with $550 becoming a target to the upside on a bounce to watch out for.
Flibbr
I'm going to stick my neck out here and call a bottom.
I think the drop before this last one.. was a hard fight for bears to drag it back down.. they did and weak hands panicked again... to bring us the largest volume on any drop yet.
This huge volume on this last drop, also corresponded with the smallest drop % wise of all the previous drops (hourly time frame).... Bitstamp also 100% fully retraced.
We are also are some quite major technical supports, including @SnowSilences 365 ema on the daily.. and I'd like to point out the weekly 60 ema.
Given all this factor I would say there is a high probability right now that this will serve as a reversal point... with $550 becoming a target to the upside on a bounce to watch out for.
Flibbr