Bitcoin Weekly Important Support Levels | Fib. 0.786 ($5,441)

Today's drop makes it clear that Bitcoin (BTCUSD) is going to retrace as we were expecting... But how much lower can it go?

Let's take a look at Fibonacci proportions for answers...

Bitcoin reached a peak in late June completing a move that started back February 2019... As it moved lower, it found at the 0.382 Fib. retracement level from the last bullish wave. Here we saw a bounce and consolidation that lasted for almost three months. With this level (~$9700 on average) holding the price.

This level has been broken and Bitcoin is now moving lower. First stop was 0.5 Fib (~$8,500).

Next is EMA50 or ~$7,900 as mentioned in my previous updated. If this level fails, then the next Fib. support that follows is $7,242, which is the 0.618 Fib. from the last bullish wave.

This move is still developing, but the momentum has now shifted completely towards the bears... We have been warning for weeks...

Feel free to leave a comment if you have anything to share...

Thanks a lot for reading.

Namaste.

Comentarios:

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The money will be used to pump the alts...

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Ripio Credit Network (RCNBTC). Our trade is now at 212%+ of profits.

Bitcoin drops $1,000 dollars and we see the Binance alts/btc reaching new highs...
With such a strong drop all of the alts should be on the floor...

Take this as another signal that the cycles are changing.

Here is the chart:

Namaste.

Comentarios:

Tieron (TNTBTC) is another good example:

And HOTBTC didn't drop 1 satoshi on a $1,000 usd BTC drop... We can say that the bottom is in for most ALT/BTC pairs...

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Loom Network (LOOMBTC) just had a bullish breakout:

SKYBTC will also move:

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THANKS A LOT FOR YOUR SUPPORT!

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At the end of the path, I will be reunited with the Heavenly Father and the ultimate Creator of all of us...

I feel blessed to be able to share my story...

I truly appreciate your support...

Ahhhh, right!!! ...
That's what I wanted to say from the beginning...

THANKS A LOT FOR YOUR SUPPORT!

Namaste.