People saying BTC will drop to 8K doesn't understand how strong resistance that pink line was all year long and finally broken up to the upper channel and bounced back from a long term support. Now this pink resistance will act as a very strong support and BTC need to test it. Which is approx at 11500 level. Once it bounces back from the support it will be bullish again. However if it falls below this support which was a year long strong resistance then I don't think 8k is going to hold it. People looking at linear chart and pulls out this arbitrary number based on previous high. I do not think 8k is a valid bottom. Either it is 11.5 or it is much lower.
BTC will never go 8K for sure
BUlls will be back in few weeks
perfido
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The longer the time freame, the better the TA, and your point of view is very interesting. Thank you for sharing.
sushiicrypto
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your analysis... don't make sense because People don't not people doesn't :)
Sidney-CWB
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That’s interesting, thanks.
UnknownUnicorn1912009
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great chart! thx :)
ArjunRoy
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@ltorio, Thanks :)
Zakir-Ahmed
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it can be broked if panic sell starts....
ArjunRoy
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@ghose12, Any support can be broken but if a support this strong breaks then how do you justify that previous high of 8K will hold it? I think wither it is this support or it is down to 6.xK. I cannot see 8k being a bottom. And panic sell has already begun for quite a while now.
elshanti
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@nagarjunroy, 8k would hold because it is around the the daily 200 WMA and 200 MA where all the deeper corrections bounced since 2016 also u can check it at weekly chart 20 MA.. However if a bounce from these lines did not happens and fell below then probably we already in a bear market..