Bitcoin Technical Analysis: Will Support Hold?

Bitcoin Technical Analysis: Will Support Hold?
December 03 18:27 2018 Print This Article

Bitcoin had been consolidating within a larger wedge since November 20th. Today it broke down and out of that wedge. It found support right on top of the prior support zone between $3,800 and $3,600. If price breaks below this zone, we could see a quick drop to at least $3,400.

Screen Shot 2018-12-03 at 12.54.09 PM.png

This latest drop could be a bear trap. Shorts are outpacing longs by about 30%. If this gap gets much wider, we could see a massive short squeeze.

Screen Shot 2018-12-03 at 12.54.44 PM.png
Screen Shot 2018-12-03 at 12.55.04 PM.png

In today’s video analysis I discuss, where price may go from here, 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/workin/) 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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Twitter handle is @Workin2005 and Facebook is https://www.facebook.com/Workin2005

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About Article Author

Workin
Workin

From retired airline pilot to full time crypto trader. Trading cryptocurrency provided the means to walk away from a demanding career to enjoy time focusing on what's important in life - family and friends. Helping others navigate the volatile crypto market is an amazing bonus.

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