Seems like it's too early to talk about buying at 10K? Does BTC really have the chance to move below 10K to 7-8K? Share your analysis below.
I also have an original analysis about BTC as attached, you're free to leave your comnets below.
BTC:
BTC traded as low as near $9,000 yesterday, reaching to the first target level to buy at bottom. Though price did receive decent support around this price, strength was far weaker than what I expected as price just slumped from $13,000 to $9,000 right the first time without any stop, indicating the strong momentum from bears.
As we can see on the daily chart, the continuous lower shadow with expanding volumes in the past 2 sessions indicates the fact that momentum from bears has not been completely released. Today, BTC may move in opposite directions as stated below. Forming another lower shadow with expanding volumes is option A, which indicates that price receives strong support above $10,000 and holds the potential for further gains. Option B is about bears who will keep pushing and eating the lower shadows on daily chart, which makes it possible for price to move towards $7,500 - $8,000. If that’s the truth, chips you have will be discounted by 50%, which makes a light position crucial before price moves back above MA 5.
Original by Kuang Ren, translated and posted by AICoin Jami.
You can track the real-time price information or trade via API here:
https://www.aicoin.net.cn/chart/D331D4E2
