TA on BTC

[traderperspective]

I am looking at tradingview graphs of BTC and deciding resistance levels. As TA is both an attempt to stay objective, only looking at the graphs, TA is still a bit subjective in the way a person draws his lines.
I'll give my take on BTC TA, and if anybody's graphs tell the same or different, please just give it a shot in this thread.

From what I see, the current price is ≈8450, which means we just broke a resistance at 8500 from end November.
If we are seeing further drops from here and the price does not rebound from this level, we are to go back to mid-November to find a resistance at around 5400. Should this not hold, the next should be mid-September at ≈2900. Although, I do not see 2900 levels as an option right now.

As I said, this is just my view, if you have others, please share!

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[clrpod]

I would suspect to meet resistance around 7500 and then again at around 5500, beyond 5500 it's really just likely to be a blood bath, while there would probably be resistance around 3k like you suggested, I feel if we were to reach such a point resistance would be fairly weak.

[herecomesjohnny]

I would suspect to meet resistance around 7500 and then again at around 5500, beyond 5500 it's really just likely to be a blood bath, while there would probably be resistance around 3k like you suggested, I feel if we were to reach such a point resistance would be fairly weak.

I don't really care about BTC price. A value will go up in a long-term. Selling my altcoins pre bull run is crucial. People are panicking and trading, but not effectively. Current stats on 8000 are not promising for the day trading( BTC), but if someone is not rushing things he/her will for sure experience the profit within a year.

[sylance]

I think we're about to sell off down to $7000 which sucks... but we have to remember that it was only early November that we were at this price and we were ecstatic that we raised this high.

[gabmen]

I would suspect to meet resistance around 7500 and then again at around 5500, beyond 5500 it's really just likely to be a blood bath, while there would probably be resistance around 3k like you suggested, I feel if we were to reach such a point resistance would be fairly weak.

I don't really care about BTC price. A value will go up in a long-term. Selling my altcoins pre bull run is crucial. People are panicking and trading, but not effectively. Current stats on 8000 are not promising for the day trading( BTC), but if someone is not rushing things he/her will for sure experience the profit within a year.

Exactly. Throw TA out the window for now since bitcoin is proving to be really hard to analyze. One fud again from china could leave us plunging to where we were more than a year ago. It can stress out anyone who's checking every now and then.