As BTC dips, keep in mind the macro chart. As stated in the past we are in re-accumulation, we could safely dip to some lower levels and still be bullish in the long term. Here are some levels to watch for.
7408 should act as support as it has acted as both support and resistance May to June 2019, it is also resistance sept 2018. It is also as per classical TA the level we should dip to from the descending triangle we have fallen out of as of recently.
6834 will also act as support as it is part of the band from 7408
6553 is the lower range of the re-accumulation zone and support from April 2018
6000 Psychological will also act as support
Failing this, we have our last line of defense and hard support, again hard support at the last cyan colored line in the mid 5000’s range.
Keep your eyes open and remember that long term, we are still bullish.Tags: Bitcoin, BTC, TA
Categorised in: Technical Analysis
This post was written by BlockAdvisor