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RE: [ Bitcoin Price ] The Bears are still out, but for how long?

in #bitcoin7 years ago

BTC is still trying to break above the critical support level shown in red at $10600, if it succeeds in doing so next upward target will be $11200@61.8% retrace, and after that the heavy resistance @12800, i will watch closely till then before calling bulls.

if it fails it may find support next at the previous low ($9,005), denoted by the blue dotted trendline on the chart. Just below that, we have the $8800@78.6% retrace, which could also be supportive. A break below the 78.6% retrace, will put the bear flag target @$7600 in BTC's sights.

watchout Bitcoin (BTC).png

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Wow @ajai, that is great technical analysis. Thank you

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