Bitcoin Bearish Scenario - We Should Not Underestimate This
I don't like this either.
But there is a chance that this could happen. We have been grinding up so far after a good bounce off the $6000 support level. The grind up has become pretty painful to watch. The volume has been decreasing again and there's just no real conviction during the moves up.
My previous trading idea was showing a bullish scenario. There I said that if we break support I won't be bullish anymore. Now, while we are waiting for that to happen I already want to show you what I think *could* happen. I'm not saying it will absolutely happen, it's too early to tell. But it's a scenario we have to consider. Being open minded when trading is the key. We can't get caught up in wishful thinking, we have to consider all possibilities. And according to this wave count it's possible for us to break the $6000 support and go even further down, as far as $4000 for my worst scenario.
But there is a chance that this could happen. We have been grinding up so far after a good bounce off the $6000 support level. The grind up has become pretty painful to watch. The volume has been decreasing again and there's just no real conviction during the moves up.
My previous trading idea was showing a bullish scenario. There I said that if we break support I won't be bullish anymore. Now, while we are waiting for that to happen I already want to show you what I think *could* happen. I'm not saying it will absolutely happen, it's too early to tell. But it's a scenario we have to consider. Being open minded when trading is the key. We can't get caught up in wishful thinking, we have to consider all possibilities. And according to this wave count it's possible for us to break the $6000 support and go even further down, as far as $4000 for my worst scenario.
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