Good Afternoon this is an analysis of BTCUSD from a Daily Chart starting from May 2017 when BTC value was within $1000.00.
since then we have seen an uptrend with retraces/corrections before the huge gains in December that topped out at $20 000.00
since then it has lost value at a sharp rate, dropping down towards $7000.00 before Fridays sharp price drop down to $6300.00.
yesterday we saw what I think is the last drop before the uptrend begins
this is purely based o the daily uptrend trendline that has been tested before without being broken.
$6000 was a region that I identified as a possible reversal and today BTC is up 3.10% over the dollar.
since then we have seen an uptrend with retraces/corrections before the huge gains in December that topped out at $20 000.00
since then it has lost value at a sharp rate, dropping down towards $7000.00 before Fridays sharp price drop down to $6300.00.
yesterday we saw what I think is the last drop before the uptrend begins
this is purely based o the daily uptrend trendline that has been tested before without being broken.
$6000 was a region that I identified as a possible reversal and today BTC is up 3.10% over the dollar.