If you still doubt the power of Technical analysis, well, there is nothing I cans how you to make you change your mind.
Note: None of the traced lines have been changed or adjusted since the beginning of this post. Only new lines have been created and never moved.
1) So there it is, the drop to $300s on the 13th, the "big dip" called on Dec 16th and the Support lines created since the start and called for on the 17th have been spot on.
2) As I mentioned before, wait for a great time to buy Bitcoin, and this should be it. Just give it another day for price action confirmation.
What to watch:
$305 heavy support
Blue line heavy support
$320 now a resistance
$340 a huge resistance that will only break with heavy volume or else won't hold
The Bull
MACD trying to curve up.
RSI at completely oversold condition.
Stock still showing a down trend which is healthy for a rally.
Long term support completely alive.
The Bear
If the support line does not hold. We are in big big trouble.
Note: None of the traced lines have been changed or adjusted since the beginning of this post. Only new lines have been created and never moved.
1) So there it is, the drop to $300s on the 13th, the "big dip" called on Dec 16th and the Support lines created since the start and called for on the 17th have been spot on.
2) As I mentioned before, wait for a great time to buy Bitcoin, and this should be it. Just give it another day for price action confirmation.
What to watch:
$305 heavy support
Blue line heavy support
$320 now a resistance
$340 a huge resistance that will only break with heavy volume or else won't hold
The Bull
MACD trying to curve up.
RSI at completely oversold condition.
Stock still showing a down trend which is healthy for a rally.
Long term support completely alive.
The Bear
If the support line does not hold. We are in big big trouble.