quantguy

Bitcoin Looking Weak...

Short
BITSTAMP:BTCUSD   Bitcoin
Bitcoin has found resistance at $30K and given up entirely, finding comfort in the $29K's. The price action is rounding off, suggesting another dump may be in store for us. We have good support at $28.8K, then $27.9K if that breaks. Then there is a vacuum zone down to $25K, the relative low from the previous dump. If we are somehow able to gain momentum, then $30K will likely provide prohibitive resistance, then we will have more from $32K, then $34K which should be considered a ceiling for now.

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