So, I covered the Binance dump in the last idea, basically now trying to figure out where we'll go from here and trying to draw up potential support/resistance points moving forward. I do believe we would've bounced off this green support trend line had it not been for the Binance fear causing an absolute dump. That meant the price plummeted through the trend line and through a support area too.
Right now I would want to see what happens if we hit the $9,600 price range again, but my gut says we would bounce up and not break downward, this is because the Binance issue was dealt with pretty swiftly and they've announced that funds will be reversed.
Still, there is a lot of other negative news out there right now regarding SEC, price drop, and Mt Gox trustee sellof
* This is not financial advice or trading advice. This is analysis and personal opinion used for educational purposes
Right now I would want to see what happens if we hit the $9,600 price range again, but my gut says we would bounce up and not break downward, this is because the Binance issue was dealt with pretty swiftly and they've announced that funds will be reversed.
Still, there is a lot of other negative news out there right now regarding SEC, price drop, and Mt Gox trustee sellof
* This is not financial advice or trading advice. This is analysis and personal opinion used for educational purposes