BTC could dump more

27 de jan. de 2019

Hello guys! as shown in the chart, we have a bear flag right in front of us. and the volume has been decreasing while this bear flag was forming which is a strong sign than we could fall more! but 1 thing to keep in mind is the 200 MA in weekly timeframe which is a very strong support level. Also the 3000 level is equal to 50 ma in monthly timeframe. one thing to notice is that bear markets usually end up in monthly support levels, so even if we sink down to the 3000 level there is a chance to get a reversal so i personally tighten up my stop every time the price goes down, to not to lose profit. if we do sink below, the first target would be 2400 and then 2000. good luck trading everyone and thank you for your support!