Bitcoin reached a critical trend linesteemCreated with Sketch.

in #bitcoin3 years ago

Bitcoin Burning

In its relentless march downwards the last few weeks, Bitcoin price is reaching a critical trend line :

1day chart Bitcoin (Bitstamp - Tradingview
Figure: critical trend line

If this trend line does not act as a place for a true bounce, the next historical trend line is way, way lower. In that case, the recovery will take much longer (months or up to one/two years).

But remember, for every seller there is a buyer. Someone is loading up on cheap coins right now....

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There is a big support area between $5800-$6000. This is our only hope at this point!

I agree, I am loading up once Bitcoin reaches around the 5k mark. I just posted a Bitcoin TA update as well and I followed you!