BitcoinLong
Bitcoin testing top of 8/1 Gann
Since October the 12th with this TA below
I have been talking about the importance of Bitcoin testing the top of the 8/1 Gann ratio as support for the perfect setup , nearly every single time in history on a macroscale when Bitcoin breaks the 8/1 Gann it will come back down and retest it as support before going higher.
Bitcoin broke the 8/1 Gann October 5th by October 25th I thought the retest would not happen but here we are 60days after breaking the 8/1 Gann Bitcoin has come back for the retest!
I really did not think at a 65k Bitcoin that coming back down to the 8/1 Gann ratio would happen , I was expecting the price to come down to 0.618 Fib before heading up at around 53k but for the price to come back down to 8/1 Gann is pretty amazing!
The yellow circle shows bitcoin failing at the first attempt on the 8/1 Gann , which is what normally happens , after that we found support at the 4/1 and rallied past the 8/1 and now the price for the time being has closed above the 8/1 Gann.
So i think the bottom is in , the price will come back down lower most likely to 46k but on December 9th we will start the disbelief rally.
If we break and close under the 8/1 Gann ratio its going to get ugly pretty quick and most likely enter a bear market of some sort.
I still think we will hold the 8/1 Gann and start to rally from this area, want to know why December 9th? look at the TA below.
I have been talking about the importance of Bitcoin testing the top of the 8/1 Gann ratio as support for the perfect setup , nearly every single time in history on a macroscale when Bitcoin breaks the 8/1 Gann it will come back down and retest it as support before going higher.
Bitcoin broke the 8/1 Gann October 5th by October 25th I thought the retest would not happen but here we are 60days after breaking the 8/1 Gann Bitcoin has come back for the retest!
I really did not think at a 65k Bitcoin that coming back down to the 8/1 Gann ratio would happen , I was expecting the price to come down to 0.618 Fib before heading up at around 53k but for the price to come back down to 8/1 Gann is pretty amazing!
The yellow circle shows bitcoin failing at the first attempt on the 8/1 Gann , which is what normally happens , after that we found support at the 4/1 and rallied past the 8/1 and now the price for the time being has closed above the 8/1 Gann.
So i think the bottom is in , the price will come back down lower most likely to 46k but on December 9th we will start the disbelief rally.
If we break and close under the 8/1 Gann ratio its going to get ugly pretty quick and most likely enter a bear market of some sort.
I still think we will hold the 8/1 Gann and start to rally from this area, want to know why December 9th? look at the TA below.
t.me/+8CRZJqXrjwU4ODA0 re-launched telegram group , it is free , just place to chillout talk about crypto bull market , will be posting trades live randomly
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