Hello my friends,
I am more with the side of bearish momentum and i am saying that
correction did not done yet.
Bitcoin has to reclaim two important levels to be able to say that we
return in a bullish moment.
61000 and 64000 are the areas bulls must reclaim before to continue more upside.
Looking back to the previous 56% correction, i am seeing too much similarities which
and i spotted on my chart.
The most important note is that on the previous top we had a fake bullish pattern
with bearish divergence. This combination gave us 56% correction.
On the top of 69400 we have exactly the same combination, and as we saw, we started to
dump...
I expect a trial to recapture the area of 61k and maybe and 64k by bulls, but i expect them to
fail, and to see one more leg downside, before a MARKET DECISION.
I pay attention to the phrase MARKET DECISION because, once we will see the last leg downside,
we need to see how the market will react once wave E bottom out...(around 48000 - 51000).
This will be the area where we will see if market will continue its bullish cycle, or we will fail and we will
return to the levels of 38000 - 41000.
Your comments are appreciated.
Have a nice day and good luck with your choices.
P.S : Pay attention to the bitcoin dominance because this chart is near to signalize an altcoins season!
This will be the opportunity of ETH to perform better than Bitcoin!!!!
I am more with the side of bearish momentum and i am saying that
correction did not done yet.
Bitcoin has to reclaim two important levels to be able to say that we
return in a bullish moment.
61000 and 64000 are the areas bulls must reclaim before to continue more upside.
Looking back to the previous 56% correction, i am seeing too much similarities which
and i spotted on my chart.
The most important note is that on the previous top we had a fake bullish pattern
with bearish divergence. This combination gave us 56% correction.
On the top of 69400 we have exactly the same combination, and as we saw, we started to
dump...
I expect a trial to recapture the area of 61k and maybe and 64k by bulls, but i expect them to
fail, and to see one more leg downside, before a MARKET DECISION.
I pay attention to the phrase MARKET DECISION because, once we will see the last leg downside,
we need to see how the market will react once wave E bottom out...(around 48000 - 51000).
This will be the area where we will see if market will continue its bullish cycle, or we will fail and we will
return to the levels of 38000 - 41000.
Your comments are appreciated.
Have a nice day and good luck with your choices.
P.S : Pay attention to the bitcoin dominance because this chart is near to signalize an altcoins season!
This will be the opportunity of ETH to perform better than Bitcoin!!!!
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.