Bitcoin is going down, as predicted back in December 17th
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BTC/USD: Follow up
So it took a bit longer than we thought but (unfortunately) we were tight.
Bitcoin dropped to the first support, closed the 4H candle there and immediately dropped to the second support line and bounced a bit.
What now?
Bitcoin will once again try to fall below $42,200 during the next 24 hours.
In case it will, we will likely see a fast drop to $ 40,000, hopefully it will be the lowest rate in the near future.
Follow the buying and selling pressure with the volume indicator, it'll give you a great indication about the possible upcoming movement.
So it took a bit longer than we thought but (unfortunately) we were tight.
Bitcoin dropped to the first support, closed the 4H candle there and immediately dropped to the second support line and bounced a bit.
What now?
Bitcoin will once again try to fall below $42,200 during the next 24 hours.
In case it will, we will likely see a fast drop to $ 40,000, hopefully it will be the lowest rate in the near future.
Follow the buying and selling pressure with the volume indicator, it'll give you a great indication about the possible upcoming movement.
Anmerkung
Well, this one was easy, when an asset with a great interest fails to keep its momentum we can understand what will be the next move. Bitcoin Dropped below the 3rd support as expected.
What now?
The 3rd support becomes the new resistance meaning, Bitcoin will try over the next few hours to recover above $40,100 but, if fails, we're on the way to 30K.
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