- After a quiet day, the fall accelerates at the European close.
- Social networks talk about whales fishing in rough seas.
- New annual low can be set in the next few hours.
The feeling of possible falls on the Crypto board that I described this morning in the article on the three leading Cryptocurrencies is coming true.
Why do I say this? The first thing that came to mind when looking at the charts is that it is very likely that we will see new lows in the next few hours. Everything is aligned to make it happen.
Finally, because it is now relatively cheap and straightforward to shake the hands of less experienced HODLers and collect their Cryptos at discount prices.
The BTC/USD loses the price range of $3,800 and heads toward the annual lows of $3,500. This is the first support level to watch. If the BTC/USD breaks it, the sell-off could extend and be scarier. The next level of support is at $3,271 (price congestion support).
The drop may be bigger if this second level fails to support, due to the appearance of fear-driven sales. In that case, the third level of support lies at $2,870 (price congestion support).
From there, no whales will be left, just sharks.
Do you want to know more about my technical setup?
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