Yesterday I posted this:
There I wrote:
This inclined ground seems solid enough to withstand the pressure of the BEARS till now, also the Stochastic and RSI indicators seems to show a good rebounding status to avoid the fall but, if eventually this support is broken by the BEARS we may see an acceleration of the fall bringing BITCOIN just below 5900 USD, which is another historical long term support.
Hope we see just a continuation of the Higher Lows Trendline because in negative case, this Market "agony" will be much longer...
...and this is what we have, at least at COINBASE:
The Red dashed-line was the LIMIT I was claiming in case the Dark-Blue Dashed line was broken.
As you can see, as soon as BTC broke that Blue line, the accelerated drop occurred...And it has broken as well the LONG TERM SUPPORT
The price has had some resistance at 5700 USD but the most likely is that it will fall lower, since if I try to count subwaves I can only see 4 of them at the 1h chart.
I have one idea that, since a few days ago, is haunting my head and it is the possible relation of the BCH failed bull run due to tomorrow's hardfork and the sudden drop we have seen today, just 24h ago the event. Again, I think the market is purely manipulated.
Sorry for the expression but these "Bullshit" events and the messy fight of the two BITCOIN CASH vision don't help in order for the market to grow in a healthy way.
As a positive reading I may say that I have been claimed for a drop like this since months ago. My "Buying zone" was only from 5900 USD downwards because this is what technically seemed to be the most likely level.
Now, what I see is that some of my buying entries have been triggered and I am happy for that.
Hope some whales consider this point a good entry as well.
*Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently.
Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
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by toofasteddie
