We experienced one of the most common Bitcoin surprises in the last 24 hours.
First surprise was back few days ago when the price dropped to $7,200. (Area "A")
It dropped down to support line that shows in the graph for few weeks ago. (Horizontal line)
What we have seen in the last few hours was testing the trend line ($9800). (Area "B")
Whatever happened above the trend line could be considered as Market Fever or Excitement or maybe illusion. ( Area "C")
If the above statement is correct, Bitcoin is going to see $7,000 channel pretty soon. So, do not get so excited.
Or, it might just be a beginning of a reversal. In that case $8,000 channel would be a new buying zone!
First surprise was back few days ago when the price dropped to $7,200. (Area "A")
It dropped down to support line that shows in the graph for few weeks ago. (Horizontal line)
What we have seen in the last few hours was testing the trend line ($9800). (Area "B")
Whatever happened above the trend line could be considered as Market Fever or Excitement or maybe illusion. ( Area "C")
If the above statement is correct, Bitcoin is going to see $7,000 channel pretty soon. So, do not get so excited.
Or, it might just be a beginning of a reversal. In that case $8,000 channel would be a new buying zone!
