On coinmarketcap everything is red for the top 10 coins, btc leading the sea of red. From another perspective, it's shopping time with some good discount ! But do be careful as low might get lower. Be nimble. Big dip yesterday, thought the 7800 zone would hold little longer, now it's around the wall zone of 7500. Added possible channel from the resistance of the descending triangle (pink line). Candles hovering around 100 day moving average on daily candle.
News: -
Short term moving average (day candle) : MA crossover and candle dip below.
RSI : -
Depth Chart : (S)7400, 7500 | (R) 7600, 7800
Weekly Timeframe : -
Disclaimer : This is not financial advice, it's all based on my personal biased opinion. Do your own research and put in the amount you can afford to lose.
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Amazing information for us
We have finally seen a push in a particular direction today as price fell out of the consolidation range price created after rejecting the $8,600 region. After such a major market manipulation a pullback or sell off was inevitable. Price has since continue to trade below to support level of $7,800, looking to push lower towards the next support level of $7,200.
The 4hr chart shows that price was able to break and close below the previous support of $7,200. Price has also rejected the 200ema at this level which is another indication we could see price continue this push to the downside. If this bearish movement is to continue my short term target is to $7,200. This could be a positive in the long run by giving the market some time to breathe and also to potentially create a lower high.
yeah gives some room to breathe =)
Btc moving up