A Sudden Drop On The Cards For Bitcoin In The Very Near Future?
Hi there Guys and Girls, me again :-)
Just thought I'd give you a quick update on my thoughts with regards to BTC for the next few hours, maybe days, although I don't anticipate it being a long-drawn out thing. As I'm writing this BTC is hovering at exactly the $9,000.00 mark and it seems the resistance line is keeping it in check right there. Couple that with a nice consolidation over the past few days on the 4 hour chart, and also taking into account the subtle hints coming from the MACD, I believe we may see a sudden drop in price, somewhere in the near future. Whereto? Well, my guestimate at this point is that the first stop would be around the $7,800.00 to $7,500.00 level - we'll have to re-assess what happens from there onwards, but I believe a drop may be on the cards sooner than later. That elliptic area I drew is where I envision things might go, but as always - it's not an exact science. If it were, we would have had a whole lot more Billionaires in the world. Safe trading everybody, and above all else - enjoy the process!
As always - This is not advice to buy or sell, but merely my take on what the market might do in the near future. Always work on your own analysis, and trade safe everyone!
Just thought I'd give you a quick update on my thoughts with regards to BTC for the next few hours, maybe days, although I don't anticipate it being a long-drawn out thing. As I'm writing this BTC is hovering at exactly the $9,000.00 mark and it seems the resistance line is keeping it in check right there. Couple that with a nice consolidation over the past few days on the 4 hour chart, and also taking into account the subtle hints coming from the MACD, I believe we may see a sudden drop in price, somewhere in the near future. Whereto? Well, my guestimate at this point is that the first stop would be around the $7,800.00 to $7,500.00 level - we'll have to re-assess what happens from there onwards, but I believe a drop may be on the cards sooner than later. That elliptic area I drew is where I envision things might go, but as always - it's not an exact science. If it were, we would have had a whole lot more Billionaires in the world. Safe trading everybody, and above all else - enjoy the process!
As always - This is not advice to buy or sell, but merely my take on what the market might do in the near future. Always work on your own analysis, and trade safe everyone!