Is #bitcoin heading to 37K or down to 4K ? Decision in June...
Updated
So I made a simple chart. This time I went to look at the btc log chart, with some fib fans, fib retracement zones and ichimoku clouds.
On this TA I draw the 2 possible outcomes that are around the corner... one of these outcomes will happen and from what I've been following, there will be for sure a bullish move soon to test out higher resistance levels (and that thin zone in the ichimoku cloud). Price will reach that levels for sure in June, but the outcome no one really knows for now... that timeframe near 20 of June will be a critical point and there will be for sure some action near that date.
What outcome do you think it will be more probable? Breakout from resistance and heading to new ATH's or fail to break resistance and fall down to lower support levels at $4000?
On this TA I draw the 2 possible outcomes that are around the corner... one of these outcomes will happen and from what I've been following, there will be for sure a bullish move soon to test out higher resistance levels (and that thin zone in the ichimoku cloud). Price will reach that levels for sure in June, but the outcome no one really knows for now... that timeframe near 20 of June will be a critical point and there will be for sure some action near that date.
What outcome do you think it will be more probable? Breakout from resistance and heading to new ATH's or fail to break resistance and fall down to lower support levels at $4000?
Note
Right after I published this idea I went back and look and the previous correction and decided to make a ghost pattern and overlay it over the previous 20k all time high. For my surprise, there is an overlap on the exact period I've been mention, a rise above the Ichimoku cloud to test that levels. The ghost pattern shows a rejection and a pullback to previous support levels and lower ones reaching as low as $4000 before making a full correction and trend reversal to bullish.
After seeing this, and if bitcoin reaches the price levels I'm expecting, I'll be keeping an eye on that 12K level and will take some profits around that price.
Now I'm even more curious to see how this will all play out in June / July
Note
* The last update was just an overview and looking more on the bearish side. Personally, I'll be taking some profits at those levels, but I still believe that Bitcoin may break above that resistance and may go higher as the original idea.
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