Hi fellow Steemians, it has been some days since my last post. In the previous post, I have shared about the possibility of Bitcoin to reach lower range, and it did happen. I do not like it, but we have to face a truth that BTC is on the way to achieve a lower point.
Trading in the danger zone
Drawing out two resistance and support lines from previous value zone, Bitcoin is now trading around $7000, which was in the middle of the Support and Resistance zone. In my opinion, it is quite difficult to predict the market from that price point.
I would go with a possibility that Bitcoin may recover to the Resistance area at $7400, then we will need some candles to confirm the next moment.
I'm in bearish in short-term.
What's our chances to break the resistance at 5800?
Thanks for sharing, a bounce to 7.4k would certainly help reset the RSI. Let's see how it plays out.
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@coinbrew I find you today on Steem and following you reading you old posts you chart knowledge is exceptional really appreciate that you will be useful person on feature I am sure. Thinking for bitmax trading according to charts what will be safe zone for that high risk trading?