BTC seems to be crashing, but it is entering a strong support zone as I write this. As long as there is no new low (below 11,163$), everything is still good for BTC and there is a good chance of a sharp reversal soon.
But if 11,163$ gets taken out, there will be another huge crash (targetzone 8,000-6,000$). This is the power of a make or break level. If it breaks, then by definition it cannot be a wave 1 scenario, which means it will crash...
In the picture I wrote 11200, but the exact level to watch is 11,163$...
So watch this level closely, once broken it will drop 3000$ minimum within only a few hours.
The levels pointed out are ONLY relating to the BITSTAMP chart. For BITFINEX the mob is 10700. Every exchange produced another low... The differences in price are huge theese days. It sucks, not only for TAs...
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