BTC will go down before it goes up
Updated
BTC is at ATH levels already without taking a breath on the way up. I believe we will see some heavy sell pressure at these levels which will push the price down for now. Here's some of my reasoning:
- BTC has seen a sharp rise since the beginning of this year with no time for it to breathe.
- Cyclically, ATH breakout occurs November of this year which is still 8 months away.
- Volume is low
- Orderbook has lots of sell orders at 70k.
Note
Looking good for October-November breakout
Note
A significant support level has been reached. This is a great spot to go long Note
Sharp recovery from support
Note
I believe BTC has seen it's last leg of downwards consolidation and we will only see upwards movement from now on into the next parabolic run.
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