Long

Bitcoin about to make a massive move

Updated

BTC about to hit 10k very shortly imo.
Are people still shorting ?

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I will explain why Bitcoin will go up.

1. The majority, or the herd, is shorting bitcoin. High likelyhood that smart money is the ones pushing up the price right now.
2. They historical key level of $5500 remained intact during this bear market thus far.
3. The price movement down is showing a flattening, or bottoming process, even though we made a newer low, we have not plummeted. The trend angle is showing a -1 degree slope with the lower low.
4. The volume decreased at the lower price level and it does not take a whole lot of volume to bring up the current price, meaning, as more buyers start to accumulate the next bull cycle will start traction.

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As people get rekt by shorting they will be forced to cover their shorts, this will help to push up the price massively later on

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Either we retest 0.236 or we go straight for 1.618

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Bullish divergence 1h

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Sorry picture above is bit off :)

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cftc.gov/dea/futures/deacboelf.htm
Shorts outweigh longs on futures

49.1% long
83.9% short

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Anyway, what I'm saying is... It can go to 9k before we see any *major* correction.
I've been long since around 6.2 and I'm closing my position partially at 8.8.

After we hit around 9k area we need to be a bit cautios, the 1d is more bearish than the hourly. But i still think there is a possibilty we can go above 9k before we see any major drop.

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I give it about 2 months until we see a big rally.

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prive moving as expected

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Move above 6.7k may trigger the next rally (this is what i expect)
A dip below the white trendline could trigger a next bearish move.
Expecting sideline movement inside the green box and then a rally.

Drop below white trendline = red arrow scenario.

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6.7 now, lets see if I'm right :)

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13-20d until rally my projection

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I think the chance for BTC to re test THE horizontal support one more time is lower than a re test of 7.2k right now.

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7k now, without further analysis im still expecting another small leg up to 7.1-7.2k then a sideway pause that will last a few days. Then a major leg up.

ethhunter

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