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Market Alert Wed Nov 9, 5:45 AM EST BTC 18,050 - Text Update from Martee
🕑 Added 2022-11-09 17:32:40 +0000 UTCGood Morning All
Just a quick update:
We ran the stops from the lows of 17,600 from the June 18 candle.
My red lights are illuminated and flashing a warning signal.
BTC is currently oversold on my short-term indicators and should have a bounce from this level
Anytime a bottom is retested there is always a concern that the support will become the new resistance.
It's a little early for that but we are in a "warning area suggesting a possibility of more new lows in the days ahead.
If we do indeed head south I can only speculate on the depth of the move.
What I do feel is that it will be temporary and it could finally mark the end of this overextended bear market
Support lines below the 17,600 are located in the 14000-16000 range at the moment but until I get the initial hard break I cannot comment on a definitive support area as the velocity of the move will impact my new support numbers.
As of this hour, there is no significant damage done to the structure just a retest of the old bottom from June 18 and a warning signal that the current support area is under threat
Have a great day
Martee
Comments
Thank you Marty
Been waiting for this, I'm ready to buy....I think
hit 15.5k on BitGet
Is this the part we suppose to say oh sh*t
Im going to take a stab at this, were dropping below $10k btc and I expect 2-5 months rolling around $7k-$12k btc. If you roll out the 2017/18 chart over the current market …it shows a surprising similarity with the current chart…overlay if followed shows a drop of 50% from here lasting 4 months-ish…yeah guys a repeat of the previous crypto winter chart…brutal if true. TPTB has their boot on the neck of crypto… this is purely my speculation.
Thanks, just bought more THETA.🤩💰💰💰
what are you projecting? I'm at 12,000.....
Thx Martee. I placed my buy orders!
here we go!
I see 16,835 so far ..
Thanks Martee
