BTC technical analysis

[PhoenixJ]

This is merely a trendline analysis based on support and resistance levels. I don't even trade cryptocurrencies but this chart looked so perfect for an analysis so I though I would share it with you guys. My guess is the bearish is taking over and the price could drop to $55K but the problem is currently it's still not clear and it's so close to the support line but the break through is most possible. Hope you guys like it. Tell me what you think about them.
Please ask me if anything I drew is unclear.

 

[FXO_trader]

This is merely a trendline analysis based on support and resistance levels. I don't even trade cryptocurrencies but this chart looked so perfect for an analysis so I though I would share it with you guys. My guess is the bearish is taking over and the price could drop to $55K but the problem is currently it's still not clear and it's so close to the support line but the break through is most possible. Hope you guys like it. Tell me what you think about them.
Please ask me if anything I drew is unclear.

I also think that the break through is most possible. Although it makes me sad

 

[PhoenixJ]

I also think that the break through is most possible. Although it makes me sad

I understand mate! I hate it as much as you do to see what is becoming of Bitcoin! But in the long run I strongly believe that Bitcoin will win the fight! Bitcoin is the future.

 

[Antho]

This is merely a trendline analysis based on support and resistance levels. I don't even trade cryptocurrencies but this chart looked so perfect for an analysis so I though I would share it with you guys. My guess is the bearish is taking over and the price could drop to $55K but the problem is currently it's still not clear and it's so close to the support line but the break through is most possible. Hope you guys like it. Tell me what you think about them.
Please ask me if anything I drew is unclear.

Nice! BTC can be tricky to predict, especially near those critical support levels. Curious to see if it breaks through or bounces back.

 

[PhoenixJ]

Nice! BTC can be tricky to predict, especially near those critical support levels. Curious to see if it breaks through or bounces back.

Unfortunately, I cannot predict such things but if you place your entries at the break through lines that I drew you can profit them. So far everything turned out as I predicted.

 

[FXO_trader]

So far I don’t see a comforting scenario, only after the price breaks through 59500, there is a chance to go higher. For now, the price of Bitcoin is at 57070...

 

[PhoenixJ]

So far I don’t see a comforting scenario, only after the price breaks through 59500, there is a chance to go higher. For now, the price of Bitcoin is at 57070...
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I absolutely agree with you!
I firmly believe that BTC is worth investing in in the long run, but currently, I think the chances are that the price will drop to $53K.

 

[FXO_trader]

I absolutely agree with you!
I firmly believe that BTC is worth investing in in the long run, but currently, I think the chances are that the price will drop to $53K.

But as we see, the situation can change quickly - an assassination attempt on Trump and Bitcoin goes to 60,000

 

[PhoenixJ]

But as we see, the situation can change quickly - an assassination attempt on Trump and Bitcoin goes to 60,000

Indeed!!! Who would've thought!!! $64K now...it's a bloody shit show. Pardon my French.

 

[FXO_trader]

The chart shows an interesting figure on the daily timeframe. What do you think? I think there is a chance to reach 70,000.