BTCUSD – Bitcoin Shaky or Shakeout?
The price of Bitcoin recently lost momentum after immense profit taking near the 9500-9700 areas. We recently just saw a dip into the accumulation zone. Bitcoin held at 8800 so far, which is currently a higher low. If you follow my idea on tradingview I was able to fill mostly around the 8800 and 8850 area. Any dip lower than 8550 will have us reconsider. Traders should look for a breakout above 9200, or a dip back into the accumulation zone closely watching the 8800 support. At current price levels, swing trades should be aiming for 300 point moves until a better setup is found.