As a result of the current market instability, some investors are panic selling, while others are clinging on in the hopes of a recovery. In just three months, the value of Bitcoin has fallen by more than 60%... On the weekly TF, we've reached the 200 SMMA trendline. Since 2015, we've been relying on this support trendline... Is this time any different? Well soon we'll find out.
Looking at the monthly TF we also are testing the 50 SMMA trendline. It is only if we lose this key level that we can consider a new idea:
The shark harmonic pattern, which has a target of approximately $12,000 for the next long opportunity.
Right now, though, we've reached a bottom and this represents one of the best buying opportunities.
Altcoins retraced more than 90% and showing great chart setups.
Does it mean we won't see any further decline? No doubt we can, however if we look at the overall picture, we can argue that purchasing cryptocurrency at a discount is a good deal.
Looking at the monthly TF we also are testing the 50 SMMA trendline. It is only if we lose this key level that we can consider a new idea:
The shark harmonic pattern, which has a target of approximately $12,000 for the next long opportunity.
Right now, though, we've reached a bottom and this represents one of the best buying opportunities.
Altcoins retraced more than 90% and showing great chart setups.
Does it mean we won't see any further decline? No doubt we can, however if we look at the overall picture, we can argue that purchasing cryptocurrency at a discount is a good deal.