BTC To Play In The Sand a Little Longer?

1 mars 2018

As a first time publisher I hope I may be able to provide some insight, and mainly just share my idea about where I think a particular price may be heading. Over the past week or so, I've been entertaining the thought that Bitcoin may be making a turnaround from the temporal Downtrend we've seen over the past weeks. However, after looking at my chart on both the 4 hour and daily timelines, I'm beginning to lean back into the idea that this bear run is not quite over yet. This is my first post, so I'm going to keep it short. After the two failed attempts at a breakout to the upside this week, and seeing the price of BTC dip back below the $10,200 -$10,300 range about two hours ago, I believe BTC may find some support soon, but first a further dip towards the $8,500 level. I've drawn two areas on my chart where I believe BTC will find a comfortable landing spot. Looking at the two blue trend lines I've drawn, one can see that these two lines will act as significant support lines, should BTC retrace to that level. With BTC retracing below that important $10,200 to $10,300 level, I believe we can look forward to a further dip into the levels I've indicated on my chart. This is not advice to buy at those levels, merely an observation of where i believe the price may be heading before we finally see that turn to the upside. Thank you for taking the time to look at my analysis, and happy and safe trading to all!