Bitcoin price technical analysis update
This week opened with break below 6000 $ ‘ it was expected -what the next move…
As told you a long time ago my exception for the bitcoin
Shortly: ““Chinese stock bubble of 2007 wiped out hundreds of billions of market value
Chinese shares have tumbled more than 8% in one day in November 2007
Major indexes had their largest one-day drop ever
Shanghai Composite Index lost 8.5%, to 3,725.56 points.
Stocks fell across the board, with 2,247 companies falling, leaving only 77 gainers.
More than 1,500 shares listed in Shanghai and Shenzhen dived by their 10 percentage point daily limit, led by index heavyweights
Sudden fall wiped almost a third off the value of shares during the course of a few weeks.
The fall was caused by rumors that the Chinese governmental economic authorities were to introduce varying policies that would restrict foreign investment – from capital gains tax to raising interest rates to a clampdown on speculative trading with borrowed money”
Technical analysis:
pay attention to 8600$ price level! – closed below this level will send bitcoin to cope with 5100$ price area, or even to lower price to the 4400 $ price While stay above those levels could send bitcoin up again over the last recording-term trend forecast moved is still down as long as 8600$ will not break up again!
Break below 5100$ on weekly basis will send bitcoin to 4400 $ while a break up again above 8200-8600 those levels will lead bitcoin to go higher again
Break down on weekly basis 4400+_ $ price area will send bitcoin to 3200$ while staying above could send it back to see new high
As long as bitcoin price below 8600 the trend is bearish
Break below last lows (6000$+_) would send bitcoin to 4400+_
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| BITCOIN ANALYSIS |
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