Bitcoin (BTC/USD): Evening Analysis, Not a panic just a correction
Weekly
Looking at our trend timeframe we see our uptrend has been broken, major support zones shown in picture. Although $5,000 sounds like the ideal major support, $2,500 seems to have stronger candles shown on the weekly.
Daily
Pattern timeframe showing nothing has changed but BTC price falling. Major support zone has now been broken at $6,500, next target looks like $5,000. Not buying any more BTC or Alts until BTC has a confirmation of support on the daily. Stochastic RSI showing momentum has bottomed out, although price is showing otherwise.
Conclusion
- Buy: After Daily Confirmation at $5,000
- Sell:
Comment Down below what coin you want me to do next! ;)
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Disclaimer: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based off speculation. You should not take my opinion as financial advice. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing.
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