Update to post: https://steemit.com/bitcoin/@jagr/btcusd-technical-analysis-update-usd8028-feb-4th-2018
So, we're nearing that fib retracement level (around $6500) I've been talking about for the past few posts. We need to look for some good support here. It's possible that price action could blast right thru it, so we need to see that support. Look for RSI and buying volume to pick up at this level. See screen cap below.
But also know that price could go through and trigger open stop losses set for below this level, triggering even more selling.
I'm going to be looking for a bounce here. Then looking for a dip on that bounce. Most importantly, I need support to be established.
Please do not follow my advice blindly. These are my own strategies and may not be applicable to you. I'm a long-term holder. So, you should be devising your own plan -- just remember to stick to your plan! Don't let your emotions over-take your plan!
