Beginning or end of the correction?
Hello wonderful person!
Thank you for stopping by my post, and please share your thoughts in the reply section. So the correction we see now seemed quite abrupt but alas it got a resistant at the support 7750-7740.
If this support line does not hold, the correction will probably continue and probably towards 7500 or 7100.
Changes:
Conclusion
Not much I would add into the conclusion part here at this point that is not already said in the introduction, but I would like to point out that the indications have not crossed to negative side yet on my charts; so I am waiting to see what enfolds.
Also the price is at a very interesting support line that was proven a couple of times from 15. Jan and forward. Since this support has been proven, it might be that the price will bounce from this level and move further up in Monday market; especially since Sundays are a little less trading volume.
My plan, to be fully transparent with you all, is to look at support line 7500 and 7100.
If the price hits this support, I will rebalance my portfolio and start to increase my percentage exposure to bitcoin again.
If the price bounce from current support line, then I will continue to monitor the BTC market for possible buy ins.
Hope you all had a splendid weekend, and happy hunting!
Dont forget to be safe in your trades
Thank you for stopping by my post, and please share your thoughts in the reply section. So the correction we see now seemed quite abrupt but alas it got a resistant at the support 7750-7740.
If this support line does not hold, the correction will probably continue and probably towards 7500 or 7100.
Changes:
- Added the trend line
- Added new support line at 7740
Conclusion
Not much I would add into the conclusion part here at this point that is not already said in the introduction, but I would like to point out that the indications have not crossed to negative side yet on my charts; so I am waiting to see what enfolds.
Also the price is at a very interesting support line that was proven a couple of times from 15. Jan and forward. Since this support has been proven, it might be that the price will bounce from this level and move further up in Monday market; especially since Sundays are a little less trading volume.
My plan, to be fully transparent with you all, is to look at support line 7500 and 7100.
If the price hits this support, I will rebalance my portfolio and start to increase my percentage exposure to bitcoin again.
If the price bounce from current support line, then I will continue to monitor the BTC market for possible buy ins.
Hope you all had a splendid weekend, and happy hunting!
Dont forget to be safe in your trades
Happy hunting and stay safe!
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