Quote from: btc_angela on Today at 09:21:43 PM

Quote from: STT on October 10, 2022, 10:30:48 PM

Below all the moving averages, its less clear on a daily bar this is only 4hr but I find 4hr is high enough a time frame often to point to wider moves that might continue. If Asia corrects us back above 19.5k in a few hours then consider it a false move but if it should snowball into a bigger sell then it looks bad.

Asia will be open or at least the traders will be waking up in the next couple of hours. Yes, for now it doesn't look good but we are still above $19k-$19,100. At least that is good enough sign that we will not go below that price again.

I guess the negative news about a hack on some altcoin platform really affected the price again to go below $20k. Nevertheless, a bounce back is imminent and so I don't think there will be a big sell off that will push the price. We just have to be patience and positive that we can recover to our biggest support of $20k.

Support is strong at 19,000$, but it is unlikely for now that bitcoin is going to surpass the 20,000$ resistance line and keep stable above that price. At least that is what most recent tendencies show us, because as soon as btc approaches 20,000$, the price suddenly and sharply falls down to the support level.

Unfortunatelly minor news are maintaining bitcoin's price downside, while what we need in fact are positive major news to change the tendency upside.

I guess this year is lost already. Maybe next year holds a brighter scenario for crypto (I hope so).