Bitcoin: BTCUSD Blow-Off Top
Thar she blows.
The first top has been sliced away pretty much now and she
should try to rally from the trend line around 6360 now and
potentially from this line of support here at 6425...so be
careful now not to give profits away.
This thing could rally all the way back to 6943 again and then
smash off once more...
It would be pretty perfect if it does this, ideally from 6312
but that trend line at 6376 now can also arrest the fall,
maybe with a spike to 6312, maybe...if we see it settle, day
traders can think about the buy back to 6943 and then short
again hard if we see it touched.
Now for the downside potential this weekend:
Once the dynamic support line is broken at 6370ish it should
visit 6115, even 6017. Then at worst 6000 must hold up this
weekend..any failure here will likely trigger another wave of
panic selling back to 5100.
Lots of trades now it's gone so active this weekend probably.
Thar she blows.
The first top has been sliced away pretty much now and she
should try to rally from the trend line around 6360 now and
potentially from this line of support here at 6425...so be
careful now not to give profits away.
This thing could rally all the way back to 6943 again and then
smash off once more...
It would be pretty perfect if it does this, ideally from 6312
but that trend line at 6376 now can also arrest the fall,
maybe with a spike to 6312, maybe...if we see it settle, day
traders can think about the buy back to 6943 and then short
again hard if we see it touched.
Now for the downside potential this weekend:
Once the dynamic support line is broken at 6370ish it should
visit 6115, even 6017. Then at worst 6000 must hold up this
weekend..any failure here will likely trigger another wave of
panic selling back to 5100.
Lots of trades now it's gone so active this weekend probably.