Sirwin
Sirwin

Bitcoin is back in a dangerous area


Today Bitcoin printed an ugly red candle, I don't like this for a number of reason including the fact we are now just below the short-term downtrend.

If by end of the day we don't go back up, we may be headed even further down. As we have seen, the short term uptrend i mentioned yesterday held for a while but eventually gave up.

4d1d75005f60f7bfe2b2ab103294b97974499a5cf9fd39441caf50d6a73d1178.png

On the 1 hour chart we see the price is now struggling around the purple line and the bottom green like kinda held the fall, for now.

If we zoom out to the 4 hour chart, we can see the bigger picture a bit better. The critical point is where the bottom green line and purple line meet.

By the end of Monday the 6th we should know better whether we need to look a further down levels or we will be finally start a nice uptrend.

ea2e3cdf93da66801e7416f0c03af10dbcb82e21cc87c7faf7825e47821a468a.png

How do you rate this article?

5



Blockchain and Cryptocurrencies
Blockchain and Cryptocurrencies

Articles on blockchain and cryptocurrencies

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.