Post
Topic
Board Trading Discussion
Re: Bitcoin Forecast: Bearish Breakout Below $6360 Support Level
by
DJohnson
on 05/10/2018, 04:15:23 UTC
I think 6360 is a little high based on my lines.  I'm looking more toward 6240 if it were to be today.

That being said - I don't think there is a good position to be had at the current price and would rather wait until resistance at around 7k and slightly above to consider a short, or back to that support line at 6240 for a long.

The support that is being referenced has been hit over and over again as volume has been decreasing.  Whenever the volume comes it will be interesting to see which side it favors.