free forever qr code generator Bitcoin Was Hammered Today, Down 22% At Most, Whats Next?

Oh boy, did we have a negative day or what? Bitcoin was down as much as 22% but at least it managed to recover some losses and closed at 11386 or 16% down. Here is the daily chart:

See my work over at Steemit: https://steemit.com/@freeforever

Comment: One thing to notice here is that we did close outside of the lower bollinger band (lower green line) so that could indicated that we have had enough and that this was overextended. But that is not a guarantee of course, we could still continue to head south, the daily candlestick does look pretty bearish.

So, if we were to fall more, then we are first looking at 10000 which is basically a 50% retracement from 20000 and we do have some support in that area. Otherwise we are looking at 8500 where we do have the 200 day moving average (yellow line) and that one also corresponds with a long term supporting trendline that goes back to September.

So, in conclusion, it does look more bearish than bullish here, but we could start to go up tomorrow, it really is hard to tell at this time. We have to wait until tomorrow and see where this thing is going.

Finally, dont forget to buy the dip here if you have some fiat laying around, Bitcoin is on SALE!

free forever qr code generator Bitcoin Was Hammered Today, Down 22% At Most, Whats Next?
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Science & Technology	Upload TimePublished on 16 Jan 2018

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