Bitcoin has broken below key support ($5,500) on Coinbase. It’s dropped as low as $5,200 where it bounced. It now seems to be testing the prior $5,500 support. If the $5,500 support starts acting as resistance, price could very quickly drop below $5,000. If price can get back above $5,500, and consolidate, the bulls may have a chance to retake some ground.

EOS has crashed below many key levels of support. For now it found a bottom at the $4.28 support where it bounced. It’s now back above the $4.50 support. If the $4.50 support breaks a second time, I think an eventual drop to at least $4.00 become likely.

In today’s video analysis I discuss, where prices may go from here, potential areas to buy, traps to avoid and so much more. I hope you find it helpful.

Video Analysis:

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

Disclaimer: I am NOT a financial advisor and this is NOT financial advice. Please always do your own research before investing. 

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Discussions

    1. Workin2005 Post author

      I agree…tells me we haven’t hit bottom. That said, any positive news coming out of the SEC could be the spark that sends price souring. I think people want a reason to buy. Until then, I’m waiting for lower prices before entering any significant position.

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  1. Ian Jeffreys @DNAian

    Thanks for the TA Workin! I’m going long on EOS and see this is a good buying opportunity. Do you think EOS will “decouple” from Bitcoin, if so when do you think this could happen or will all cryptos be pegged to Bitcoin’s value?

    (1)
  2. Beautifulbullies

    Fantastic post, thank you! Today has been an interesting day with the markets. I have to say I am nervous, but I did invest a little today as FOMO took over lol
    BB <3

    (1)
    1. Workin2005 Post author

      Thanks @beautifulbullies. Yeah…FOMO is real! Haha…
      Slowly dollar cost averaging in is not a bad idea…especially if you’re planning to hold longterm. I’d just make sure not to go in too heavy. We may not have seen bottom.

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  3. CryptosDecrypted

    Thanks, @workin2005. Quality TA once again. Nibbled a little more BTC yesterday. I just plan to DCA to whatever bottom we eventually reach. Stacked significant buys at $3600 to $2800 though just in case of a sharp downward spike.

    (2)

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