Let's have a look at the 30min chart of BTCUSD, BITSTAMP.
Yellow line(200MA), blue line(150MA) and minor trend line(upper green one) meet together at $11300 level.
The red trend line has collapsed few hours ago, and now powerful support level ($11300) is under attack by sell-side.
If the level collapse, we can expect the lower level of support around at $10685 where the 0.618 retracement and minor trend line(blue line) are placed at.
On the other hands, if there is a successful reversal at 11300 level, we can maintain long position toward to $13k.
Yellow line(200MA), blue line(150MA) and minor trend line(upper green one) meet together at $11300 level.
The red trend line has collapsed few hours ago, and now powerful support level ($11300) is under attack by sell-side.
If the level collapse, we can expect the lower level of support around at $10685 where the 0.618 retracement and minor trend line(blue line) are placed at.
On the other hands, if there is a successful reversal at 11300 level, we can maintain long position toward to $13k.
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