The 100K support is still valid but the weekly timeframe chart isn't looking good.
Good afternoon my fellow Cryptocurrency trader, how are you feeling today?
Bitcoin peaked the week 19-May. Then we have bearish action only.
The week after 19-May was red, then two neutral weeks and a continuation this week. It looks pretty bad right now, terrible to be honest.
» The main support range sits between $82,500 and $88,888.
Thank you for reading.
This support zone will only become active is 100K breaks on the weekly timeframe.
Namaste.
Note
100K has been challenged for the first time ever. We wait for the daily and weekly close for more information.Depending on how these two close today we can tell how far down Bitcoin is going. A recovery can also happen fast, we have to wait and see.
Note
The first support is $97,650.Second support is $93,250.
The third one is the main support range I mentioned above.
Namaste.
Trade active
I am seeing altcoins producing very strong bullish action. This can be taken as a signal. It might mean that Bitcoin will not crash below 90K. It might mean that what you are seeing is all there is, that is, Bitcoin will recover right away.I am still waiting for the daily and weekly close for a full update but this is something to consider.
Here are two examples:
Note
Fun Token is another example.These altcoins do not break bullish right before a major bear market... This might be the final flush for Bitcoin.
Stay alert.
Note
The 4H RSI hit oversold briefly and is now back in good shape. A hidden bullish divergence appeared with this indicator...
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