Viking83

BTCUSD: Levels of support and resistance

BITSTAMP:BTCUSD   比特币/美元
586 3 9
Refer to chart. Thick lines = strong support
The appointed price is a level with highly likelihood of return to
评论: If the thick red levels are broken down, its a quite bearish sign
评论: Strong support 6315 level is broken, hence trying to play on the long side is still very dangerous, the trend is still down.
评论: Two likely scenarios. Orange arrows is what I find most likely
评论:
snapshot
评论: Looks like main scenario playing out so far
评论: At 7079 sell can be launched
评论: Selling at 7079 has become more risky as levels below have been "closed". At the upper side, levels are open. Advice is to await for market to break either up or down and enter level pullbacks
评论: Both 6702 and 7079 must be visited. A new nice setup may be formed.
交易结束:到达目标
评论: Also the level indicated should be visited;
snapshot
评论: 6640. Price travelled 1440 x 2 price degrees from the low. Each 1440 degree represents a significant resistance.
good call on that one Viking!
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Thanks for the update!
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Drop from $7,079 all the way down to (about) $5,000? Cheers!
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