Bitcoin price analysis, 11 January 2019

Bitcoin price analysis, 11 January 2019

There is a lot of talk out there about setting a new 2019 low. We very well could. Just to recap the $3500 support zone is a crucial zone right now. If it breaks out and holds below $3500 it can go back towards the previous lows. The 2018 low that was set on Binance of $3156.26 or possibly even further down to that 2017 low of $2817.

By Ezio Van Horst, Alt Trading Systems

Yesterday we had quite the wild ride. Looking at the charts today you will see that yesterday’s drop hit the $3500 support zone hard and began channeling. Volume dropped today, and it’s looking like everyone is still trying to maintain their composure from yesterday’s kick to the balls.

Beware FUD

We just had a new 24H high bitcoin price set at $3658 with a rejection and retracement. It’s unfortunate as it seems that the market manipulators are just trading against each other. Moves like yesterday definitely put the FUD in the market.

There is a lot of talk out there about setting a new 2019 low. We very well could. Just to recap the $3500 support zone is a crucial zone right now. If it breaks out and holds below $3500 it can go back towards the previous lows. The 2018 low that was set on Binance of $3156.26 or possibly even further down to that 2017 low of $2817.

At times like these it’s important for everyone, but especially for those that have bought into many of the various alts at higher levels, to remain calm and collect. HODL and don’t panic sell. Hold your positions long.

Many thanks to all of those on social media who engaged by liking and commenting on yesterday’s post! More engagement = more crypto awareness and blockchain awareness.

Today’s bitcoin price charts

Here we’re looking at the daily 01/11/19 BTC  / bitcoin price charts at 06:15, 06:17, 06:20, 06:22, 06:23, 06:34, 06:48, 06:51, 07:08, and 07:09 AM PST, looking at MACD, MA, RSI, & Stochastic RSI Indicators, with trend lines, support/pressure lines, and Fibonaccis drawn at various points of reference:

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Disclaimer: The content of this article reflects the views of the subject and should not be taken as investment advice.

About the author: Ezio Van Horst is the owner of Alt Trading Systems. ATS provides a blend of advanced technical trading and integrated emerging technologies. Van Horst shares his price analyses on LinkedIn.

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