Hello Traders,
Due to strength of USD price of bit coin drop drastically. By looking on channel look like price may drop more, but I you can see there is support on the way (red line 53668. Perhaps this support will stop price but we have observe market.
This support is on last long black candle. Support and resistance always shows on open close and 50% of the candle.
Next support will be on 53000.
Momentum is is in the range of sales. May stop on the last lower trough.
Lets wait for reverse and see what will happen next
cheers,
Jim
Due to strength of USD price of bit coin drop drastically. By looking on channel look like price may drop more, but I you can see there is support on the way (red line 53668. Perhaps this support will stop price but we have observe market.
This support is on last long black candle. Support and resistance always shows on open close and 50% of the candle.
Next support will be on 53000.
Momentum is is in the range of sales. May stop on the last lower trough.
Lets wait for reverse and see what will happen next
cheers,
Jim