Bitcoin Making Us Sweat a Little Bit

At this point I don’t think anyone wants to see bitcoin break the 7,600 area support. There is alot of downside potentially from there and would mean a ton of buy order got eaten up.

So after Sunday’s down move we see price floating not far from that level today and it probably makes us all sweat just a little bit.

The good news is if price can hold this level again then it becomes a rather major support in the near-term and can act as a solid bottom for a potential run higher when bitcoin is good and ready.

When that is we can only guess. The 2020 halving could provide a catalyst as price runs up into it but that is still a ways off to expect it could happen now.

About the author: TIMM Trader
Uniting Experts & Novices for Mutual Profit!

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