Bitcoin Price Battle Continues - What We Have Learned

in cryptocurrency •  7 years ago 

There looks to be a line in the sand in bitcoin price. As of this moment the sellers have won after the buyers had looked to be back in control.

The Battle Continues

In the below video from last night I discussed a key support/resistance line at roughly $15,250 (give or take 100 points as its always more a range then a specific number).

BTC ended up selling off in the last hour of that candle to close below it and is lower today. The buyers most have spent all their money on Christmas gifts....

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Disclaimer: All content in this post is my opinion and for educational purposes.

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In my opinion, the price will be in 11-15 000 range but after three-four week the price will rise again.

That is definitely one of the possible scenarios on the board.

We'll see what will happen.

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same pattern repeating, missed the 5K bounce just as we are missing the 10K bounce.

Just did a small article about this: BTC scewed double bottom pattern down to just above 5K earlier this year, now down to just above 10K

Don't panic, buy the panic

Yeah, that bounce to 5,600, I had my eye on that level leading up to it. I bought a little high at 6,200 (but that worked out ok hahaha). A repeat of that move would be fine with me :-)

  ·  7 years ago (edited)

Indeed 6200 is a good spot to buy in, I bought some round there but on the first bounce :P
I would wait for 15K to break before buying, but you always need more btc.
dollar cost average and always leave some, JUST INCASE btc goes on black friday special.
Cheers, Good luck!

Some excellent ongoing commentary over the holiday. So the head and shoulders looks closer to playing out?

We probably need a bounce and a day or two or price action above 16k to get a real right shoulder. It could possibly happen still but as of right now has not formed.

As of right now all I am focused on is getting above that 15.3k level again and maintaining that trendline on the downside.

I'll be honest though, a sell-off to test 10k wouldn't surprise me. Here's hoping we rally above 15k instead.

great post , keep the good work

Bitcoin will go much higher

Nice post. The falling of bitcoins price in the market will not cause any form of controversy. It may fall today, tomorrow It will rise. So no problems atall. I follow and upvote you.

Have you guys ever wondered if bitcoin price will go down one day and never go back up?

Yes, Selling is temporary for Christmas and New year. Hope it will be rebound.

Thanks for the in my face graph and analysis. Merry Christmas Mitch...

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