Bitcoin Drops! Bear Trap? Start of a Larger Correction?

In yesterday’s update, I told you bitcoin looked ready to make a larger move. Since that time, we’ve seen it drop over $1,000. Price found some support at the ascending support line we’ve discussed.

Screen Shot 2019-06-30 at 10.15.21 AM.png

Zooming out on the weekly chart, we can see we’re still trading above the upper Bollinger band. I’d like to see this week’s candle close above $11,500 later today. That would denote a major break above the prior resistance set back in January/February of 2018, which would likely signal continuation to the upside. As of now price has dropped below $11,500, trading at $11,100 on Coinbase.

Screen Shot 2019-06-30 at 10.17.21 AM.png

In today’s video I discuss, where price may go from here, traps to avoid, key areas to watch and so much more. I hope you find it helpful.

Video Analysis:

If you don’t see the above video, navigate to TIMM (https://mentormarket.io/profile/?workin2005/) or Steemit in order to watch.

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading.

Workin

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About the author: TIMM Trader
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