On Friday we went down to $7979 and I was hoping that this is the new higher low, but not yet. For $7979 to be the new higher low we need to break $8800 which is our previous high.
If we can form a new higher low above the previous low of $6500 it will be a very bullish signal.
The breaks we have seen over the weekend has been weak and this does means that we can go lower this week.
Botje11 on Tradingview predicts that we can go down to 7500 again.
Source: https://www.tradingview.com/chart/BTCUSD/d2QJ4fk3-New-possible-game-plan-for-Bitcoin/?utm_source=notification_email&utm_medium=email&utm_campaign=notification_follower_idea_update
And remember that Tone Vays predicted 6 down days on Thursday. So if Tone is correct we can still go down until Wednesday.
Here is Dan from the Chart Guys:
Do you think we will go down to $7500 again?
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I don't think we will go down to 7500 again. Maybe a drop this week to 8000 -8200.
Here is an great an simple video explaining the importance or relevance of the 7700 level. It is 7800 on Bitstamp I think:
That will be nice, lets see what happens today.
Thanks for this, once again! In the short term I believe we are looking at a sharp turn up when it hits 7000.
Agree. I hope we will not go that low, but if we do there will be a lot of buying.
That is a sharp drop from here!
From my own observation, bitcoin will do better in future than now. Let give it time and see what can be done.
We are in a bear market. Hopefully it will turn soon.
Maybe we should. Sometimes we should look at the bigger and longer picture too.
I do hope it goes down significantly especially around my pay day, or if I have a nice short placed.... :-)
We going down now 7821, they say 7600 coming
Looks like it is going your way today. :)
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