Bitcoin in a free fall looking for support. Next up 200D ema at $8968 (7% drop from current). Also in play is the 4h e2e Ichimoku Cloud where it would fall to $8600 (11% drop).
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Looks like a little bounce on the the cloud...altho may be short lived. Potentially would bounce up to $10,300 as as the 200 ema on 4h. There's a hidden bull div on the 4h, which could contribute for this bounce...Note
sorry, that picture was zoomed in way too close to see the bull div.here: 4h
Note
I still wouldn't be very surprised to see a wick drop down to 8600 by morning. I am personally playing this one cautiously. If you feel it's going to bounce up, can always buy a % of your cash reserves vs looking for all in one shebang.Note
Some possible scenarios (A & B) if this indeed does bounce off of that downward trend line.The channel seems to be widening (lower lows, lower highs = bear obviously) and the time and range of the bounces seems to be about doubling -- as you can see from my price & time range.
I have fib retracement (.618) and a confluence of Daily indicators for support if bounces from the current downward trend line.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.