BITCOIN! what comes next ?
Updated
Hi people!
I'm actually thinking 3 scenarios right now:
the first one is that we'll start going down again from 7.7k with 3k target (if btc should break 6.8k down) but this could be obvious simply because more and more ppl are looking at that
the second one is that the false breakdown of the descending triangle (like 2014) as bear trap and If I see the weekly close above 7.9k it will very likely go to 11-13k before really crashing.
the third one is that btc will break 20k and will hit target like 40/60k+ because of etfs but I would be cautios about this scenario because most ppl are looking at this.
we'll see how this will play out.
I'm actually thinking 3 scenarios right now:
the first one is that we'll start going down again from 7.7k with 3k target (if btc should break 6.8k down) but this could be obvious simply because more and more ppl are looking at that
the second one is that the false breakdown of the descending triangle (like 2014) as bear trap and If I see the weekly close above 7.9k it will very likely go to 11-13k before really crashing.
the third one is that btc will break 20k and will hit target like 40/60k+ because of etfs but I would be cautios about this scenario because most ppl are looking at this.
we'll see how this will play out.
Note
Note
but this picture suggests me we'll go down to 3k area at least. just need to wait confirmations
New ATH or continuation bull trap towards 11/13k should play out after weekly close above 7.9k
already 3k target will be confirmed after breaking 6.8k, almost guaranteed after 5.7k
Note
after these 6 daily green candles in a row we should see a correction towards 7000/7100 inside this bearish wedge. so if we don't break this pattern down we could end up between 8.8-9.2k (on 10th august). until we break 5.7k this move up to 9k is still valid.
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here's why 10th august
btw if I am not wrong this date is the etf day
we'll see
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i have been looking since weeks these days, so strange lolNote
possible another 7.7k retest before forming the right shoulder. take a look at the daily RSI as the previous IHS where we saw a strong bearish div. if this occurs we'll be back in 5k area or even lower.
of course if btc already breaks 7.8k it should go close to 8.8k as well as if it already breaks 6.8k we'll go back to 5k area.
Note
this IHS will likely be similar to the previous one.
now we have a bearish div on 4h chart, we should retrace to 7.2-7.4k (support of the wedge) before breaking the closest resistance at 7850$
daily MA 200 should be the target (8.6-8.7k)
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