After the price movements from a dip last month from October 24 $7,300 TO $10,420 now it turns back to a support position of $8,000.  If this would continue and break the support it continues to fall under $7.800. Even if the bitcoin price drives deeper below, there's a possibility of a golden cross. 

Golden Cross is a moving short term average crosses above the long term moving average but it's a bullish chart pattern. Whereas must consider hitting the double bottom below the bullish movement. But be careful since the opposite of Golden Cross the Death Cross, whereas the short term moving average crosses below the long term moving average and the TA's keep saying it will fall continue to bearish movements.

If there's no movement it will continue to fall under $7,500 and will reach the $7,400 again.  But we will see what will happen few days from now.

Always put stop loss to manage your risk.

Remember: TECHNICAL ANALYSIS is all about probabilities and based on previous market performance(not all about certainty)

Disclaimer: This is for educational purposes,it is not intended as a financial advice.

The analyst won't be responsible for a loss of fund. The trader must be able to manage risk.

#Trend Analysis

#Chart Patterns

#Wave Analysis

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