Bitcoin vanish major support and now heading towards 9000 and 7500 levels

 Toady's update : Now $11051 

 Image from Amibroker tool by @errajesh  

Major  cryptocurrency are corrected more then 50% in last few weak and sentiments are not good for cryptocurrency. And bitcoin also leading all these sentiments.

After touching 14250 levels BTC moving to lower levels 12500 and and now braked 12500.

As previously mentioned, big support on closing basis 12500 now braked and touched 10250.

And now trading at 11050 levels. All long term stop loss hit after breaking 12500.

Both Daily and 4 hour charts showing weakness and can see more downside up to 9000 and 7500 levels.

Now once can see these levels soon and bounce can be up to 11750 and if big bounce then 14275, if not braked below 10500 levels.

All momentum vanished in this correction move. Now stratagy changed and short at any bounce near 14000 levels for now with stop loss 14500 on closing basis.

Now only downside for long investors. Who stuck  can get out on upper levels with these small bounces for now.

Previous Post :

previously mentions on daily charts showing some weakness and heading towards 12500 and finally braked. 

 After touching 14250 levels BTC moving to lower levels 12500 and touched 12775 at lower side.

Same as previously mentioned, big support on closing basis 12500.

On daily charts showing some weakness and slowly dragging towards 12500. 

Now trading below 12500 levels bitcoin can see more downside.

Small bounces at lower levels can expect and again moving towards lower levels. 

It will break to upward levels after breaking small resistance.

Bollinger Band

[Image source : poloniex.com]

Bollinger Band showing bottoms are braked and heading towards more downside.. 

Now Lower channel expands to downside and bounce can be till middle 13200 and 14800 levels.

These channels are expecting to squeeze here and then next move will make new rally. 

But it took time for next move. For now only small bounce in lower channels.

BTC support and resistance :

Now all small support are vanished and next big support at 7500 levels and before these levels small support at 9000 levels in Daily charts.

For today this I have and for next move wait for some time, will update in my next article for Bitcoin Technical Levels.

My recent  posts you may like:

• Bitcoin testing patience of traders and want to cut their positions at lower levels
• BTC - Think only for 12500 on closing basis and close above it bullish
•  No big movement in BTC for next few days and Strong support at 12500
• Expecting Short covering in Bitcoin from lower levels for target 17500 again
• Short covering will come soon and up side momentum will continue till 17500 levels
•  Bitcoin heading towards target $17500 ,breaking above heading towards life time high
• Bitcoin trigger down move for target $13500 or $12800 Levels
   

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