Mr_Rolie

BTCUSD : Potential supports on BTC fall

Short
BITSTAMP:BTCUSD   Bitcoin
Since the RSI and MACD still indicate further fall in price lets evaluate our closest support.

As seen on the chart I think one of the first support could be the 1D MA50 (Yellow).

As of now the support of the moving average will come into play around 28k-30k

If the price action continues to fall after coming into contact with the MA50 we could see a test of the purple trend line which would likely be around 25k-27k

Then if the fall continues we will have to re-evaluate then.

Still lets not get ahead of ourselves we'll have to see what happens when the price will near the 1D MA50.



I am not saying the price action can't reverse at 30k btw, simply unlikely imo.

Thank you for reading!
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