BTC-EUR: triangle pattern borken, support around 1975€ is holding

in bitcoin •  7 years ago 

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BTC has been trading in a triangle pattern (in orange on the chart) for some time now. Yesterday the pattern broke to the downside. BTC fell to the next support zone that is around 1950€. Currently that support is holding but should that one break we may have a dip all the way to the next support zone around 1750€.
As I explained in last week's post we have seen this kind of corrections already in January and March and I mentioned that this one was probably not over as this one seemed a bit mild compared to the large increase in price experienced in April and May. I expect prices to eventually head back up if the 1975€ support is not broken.

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I like your levels and expectations. This is also the 4th (4th 1/2) attempt lower, and when markets are persistent, it's wise to listen.

I did a similar piece a few hours ago on the "broad market" that may interest you. https://steemit.com/trading/@cryptographic/crypto-in-freefall

Thanks.

thanks for sharing!

@erlik got you a $0.18 @minnowbooster upgoat, nice!
@erlik got you a $0.18 @minnowbooster upgoat, nice! (Image: pixabay.com)


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