Bitcoin aims at 9/11 possible pivot date? Bulls or Bears? [BTFD]
Updated
The triangles are point towards a 9/11 event for crypto/bitcoin
Key levels on the purple lines at 6800 & 7450, bitcoin needs to surpass these levels for any hopes of bullish intent, again momentum will be key to gauging the market for bitcoin this week
last week showed not all signs and doom and gloom with the very deep demand zone giving enough support to keep it above 6k and is following along the red support line for now
we had some interesting moves at both market open today and market close on friday and into the new low volume weekends, now that institutions have a large place at the table
yellow zones are supply and demands
SO....Who is in control?
...the futures are, lots of plays and record increasing numbers at BitMex and others - so hence all the crazy squeezes and price movements with no real meaning apart from the obvious
as much as i want to be bullish and take long positions, it seems like we can get in right at bottom if it comes down, if it can hold over 6800, i'd be looking at mini dumps to take a position, but it got to CLOSE above 6800 on the daily for me to even start considering going long yet in this clear downtrend environment
So at Sept 11th what will happen? nobody knows, and if anyone claims they do, its BS, we got some important news dates in September for bitcoin/etf's etc so that might prove to be a turning point either-way, be nice if it does go up, but don't fool yourself if the cards are not looking good
trade safe peeps...
always wear a stop loss :)
Key levels on the purple lines at 6800 & 7450, bitcoin needs to surpass these levels for any hopes of bullish intent, again momentum will be key to gauging the market for bitcoin this week
last week showed not all signs and doom and gloom with the very deep demand zone giving enough support to keep it above 6k and is following along the red support line for now
we had some interesting moves at both market open today and market close on friday and into the new low volume weekends, now that institutions have a large place at the table
yellow zones are supply and demands
SO....Who is in control?
...the futures are, lots of plays and record increasing numbers at BitMex and others - so hence all the crazy squeezes and price movements with no real meaning apart from the obvious
as much as i want to be bullish and take long positions, it seems like we can get in right at bottom if it comes down, if it can hold over 6800, i'd be looking at mini dumps to take a position, but it got to CLOSE above 6800 on the daily for me to even start considering going long yet in this clear downtrend environment
So at Sept 11th what will happen? nobody knows, and if anyone claims they do, its BS, we got some important news dates in September for bitcoin/etf's etc so that might prove to be a turning point either-way, be nice if it does go up, but don't fool yourself if the cards are not looking good
trade safe peeps...
always wear a stop loss :)
Trade active
![Bitcoins Fibonacci love affair with the 0.618 level... [BTFD]](https://s3.tradingview.com/x/Xp0LBaEX_mid.png)
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