Technical Analysis and Outlook
Bitcoin breached the$5620 Coin Dip as Trade Selector Signal has been projecting since Aug 8. Bitcoin reaches its lowest price level in a year, making a new Yearly Low $5281 and specific creating a testing ground of the outer Coin Dip $2860 flagged many moons ago.
The coin fronts solid Mean Resistance at $6015 and possibly Key Resistance $6593 in distance future, while newly created Yearly Low $5281 will serve as a following primary support area. (See 'Crypto Market' tab for full Bitcoin Market Commentary).
Bitcoin breached the$5620 Coin Dip as Trade Selector Signal has been projecting since Aug 8. Bitcoin reaches its lowest price level in a year, making a new Yearly Low $5281 and specific creating a testing ground of the outer Coin Dip $2860 flagged many moons ago.
The coin fronts solid Mean Resistance at $6015 and possibly Key Resistance $6593 in distance future, while newly created Yearly Low $5281 will serve as a following primary support area. (See 'Crypto Market' tab for full Bitcoin Market Commentary).