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$FIL is really testing everyone's patience right now.
Looking at the 1D chart, we are sitting right on a major nerve. It just tapped $0.857 which is basically the last line of defense before things get even uglier. The price action is looking heavy and those red candles are starting to stack up again.
The volume isn't exactly showing a huge "buy the dip" sentiment yet. If we don’t see a bounce from this level very soon, I’m looking at $0.775 as the next logical pit stop. It’s a bit of a falling knife scenario at the moment.
I’m staying sidelined until I see a solid green reversal candle or at least some stability.
#BitcoinSupportAndResistanceAnalysis