___|  _ \   |  |    |   |_ _|\ \     / ____|
 |     |   |  |  |    |   |  |  \ \   /  __|
 |   | |   | ___ __|  ___ |  |   \ \ /   |
\____|\___/     _|   _|  _|___|   \_/   _____| 

 --- A GOPHER-LIKE INTERFACE FOR HIVE BLOCKCHAIN ---

Bitcoin TA: June 10th, 2018

BY: @quantalysus | CREATED: June 10, 2018, 11:13 p.m. | VOTES: 43 | PAYOUT: $61.05 | [ VOTE ]

[IMAGE: https://cdn.steemitimages.com/DQma8NZuUjSJLeA9NzVz9JuuSWFD743mCS9nGoaiL1tzQbD/Screen%20Shot%202018-05-31%20at%2011.07.47%20AM.png]

[IMAGE: https://cdn.steemitimages.com/DQmbaFmcSw2zQH7XiwV3Kn4izDxTppi5iUiyu3GWRa21RVF/Screen%20Shot%202018-06-10%20at%2011.32.57%20AM.png]

We've got the 4h BTC chart above. I mentioned in our webinar that we'd pretty completed our double top (bearish) pattern. And if we broke down under $7500 we'd have a quick drop beyond that. As the next support is near $7200-7300. The RSI has pretty much bottomed out on the 4h time frame. And as you see we're printing a bear flag (upside down flag in black) and these typically break to the down side. The rising support line from last year is right under us at $7200-7100 level. This is critical for us to hold. However, the probability favors the bears to eventually break this. It will happen, in my opinion, just a matter of when. For now, we're printing the 6 of 9 red candle as shown. The TK bear cross has already happened on the Ichimoku cloud. This may be a rough weekend but we've been calling this for a while now so hopefully you've followed our calls and are happy to watch the price keep sinking. I still do not believe we've found a bottom yet. Creating a base in the $7000 range was already dangerous so now the bears are making the bulls pay.

TAGS: [ #bitcoin ] [ #cryptocurrency ] [ #money ] [ #investing ] [ #finance ]

Replies

@a-0-1 | June 10, 2018, 11:14 p.m. | Votes: 0 | [ VOTE ]

Go here https://steemit.com/@a-a-a to get your post resteemed to over 72,000 followers.

@heyimsnuffles | June 11, 2018, 12:33 a.m. | Votes: 0 | [ VOTE ]

MM have wanted this lower for weeks. No buyers. https://steemit.com/cryptocurrency/@heyimsnuffles/crypto-carnage-is-imminent-20180610t190128430z-post#comments

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