Bitcoin Forum

What is your technical take on BTC right now? I am personally in a bit puzzled..
I am looking at the 4 hour chart, and we had a downtrend channel from the top around 18th dec which was (on my chart) broken on the 1st of March. Today we saw a huge volume spike around 9.3k where I also have a support level. I hope we do not break this for real!
IF we really break 9.3k I cannot find any real volume-based support levels before 5.9k!!
How do you see BTC right now? FA is also very welcome!

There is no any technical reason to see the bitcoin spike up and down. When you want to invest on bitcoin you can buy the time whenever bitcoin value goes cheap.
If there any fakes news has been spreaded, any mainstream exchange has been hacked, if anyone the adopt the bitcoin and invest on it in high volume. These all will takes to see the more fluctuations in the market.

I'm just curious. How could you build a channel from 18 dec on 4hr chart?
Imho it is hart to say whats goint to happen next. I think that todays and especially yesterday's volume increases were something like a big dumps. I don't see the other obvious explanation because it happened too fast.
It is hard to say what is going to happen next because it might look like testing of 9300 support right now.

I strongly believe bitcoin have strong support since March 1 and if it can survive the 9.3k through this weekend and then break 11.7K price range. Good tiding is sure in acouple of days.