Bitcoin Dips Under $7000, Lower Price Expected before the end of June.
Hi traders, the crash we've all been waiting for might be coming soon.
Bitcoin.
- As I expected, Bitcoin is making a move down after it was unable to burst through resistance at $7700. We're now at the bottom of a huge descending triangle and right at the edge of the current value node.
- As you can see on the chart below there is absolutely no support for the price below current level which means that if we were to break down further the price would likely zip through this volume well and crash down to the (thin) lower value node at $5700 where we might stick for a bit before making a new move, probably to the downside.
- If whales decide not to support the price at $5700, we could then plummet down another value node ($4500) where, judging by its size on the chart. I would expect much stronger support and possibly a bounce play.
I hope everyone has kept some dry powder because this is about to get interesting.
Trade Safe!
Glad to see your contribution.
Thanks :)
Where are you based at?
Sorry @nuoctuong I don't give private details on Steemit, hit me up on the chat later cheers :)
Will do... it would be nice if steemit has a private chat or a message app built in like FB and other social media.
Would be nice indeed :)
Hi @tradealert, you have received an upvote from
tradealert. I'm the Vietnamese Community bot developed by witness @quochuy and powered by community SP delegations.The sharp bearish move over the weekend signifies the power the bears have at the current time in the market. I believe we could still see price move lower with the next major area of support being found between $6,630 - $6,410. It is unlikely that we will see a reversal or even a stall in this bearish movement until we reach these levels.
Hi Steve! I agree with you I think we might see an attempt to climb back above prior support at $6800 but I reckon support will turn into resistance and trigger a wash out:
@teamvn đăng ký 9953276e42efe987ef51aae900cf67b1
Đăng ký thành công
Đăng ký thành công
Đăng ký thành công
Đăng ký thành công
![image.png]
)
(
Hello trader, I seem to have met you in a meeting in Hanoi, I am also a trader, and I am watching the price $ 6600, if the price drops out of $ 6600 then the market crypto very bad.
Hi @sonphan1997, thanks for the chart, maybe you should join my discord group so we can chat about charts :)
https://discord.gg/N6zv8TN