BTC - On the support line

in #bitcoin4 years ago (edited)

Hello all,

Here was the chart of yesterday :


Here is the current chart :


I really love the use of support and resistance lines in trading. Even lot of people are saying than all these lines are just nothing and that technical analysts are not oracle are so wrong. For sure all these technics don't provide you the direction of the next move at 100%. However, it is helping you very much in your decisions or at least help you to increase your probabilities to be in gain.

Here we can see clearly that we broke the support line and that the market is staying around it, hesitating to create new lows under that line. A real bounce from the current point is really a possibility if we are not able to go lower during the coming hours.

I wish you massive profits,

Disclaimer : Never invest more than what you can afford to lose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.


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Nice entry point for going long.

Is it a good buy price?

Defense of technical analysis was in ZeroHedge today.

I like this currency ;)

hahahhah! yes, I agree with you. The answer about decision taking is my preferred one. Support and trendlines are very useful despite they deny it.
Steem on!

Do you think futures contracts are a factor? Would that already be built into the trend?

Liked your analysis as always and great to keep an eye to opportunity and the movement of the cryptocurrency markets! A lot of coins to follow, others more promising than others and I would like to request if possible to give us your input about the EOS and the soon to launch day.
I would bet massively on it if I would have enough money, but not sure about it so any perspective would be good. Thanks!

Eek strap in

When bitcoin => under 6000 usd ? 😍

dont think it wil hit 6000 6600 is stil a support it has to go through first.

Lets hope it bounces up wil be good for steem coin asswel although it held pretty good the last weeks

$7500 and $6600 are major support levels, I'd go with the ​assumption that BTC might not break down more than that.

6 months later and the market still suck....this is pathetic.

Good analysis.

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