With bitcoin trading under 100K again, the question becomes where is the next level of support where buyers take a stand?
This is actually a level I have had my eye on for a while and was hoping for the opportunity to buy btc at.
Looking at the daily chart above you can see alot of price action in the 92-93K area. I have a trendline at 91K area to mark the bottom side of that range.
Price touched 94,500 earlier today so we shall see if it gets down to that support. Really just one more push lower and its there no problem. I'll be buying some there. If this becomes and extended sell off then 85K becomes a real possibility real quick. I'd think a bounce would happen first even if by chance price got down there.
I will say, this descending channel price has been in since the all time highs is intact and at some point needs to be broken otherwise 85K is in the cards.
