BITCOIN
This is my own idea and it’s not a financial advice.
Anyways let’s get started.
if you had been following the bitcoin chart before this big dump you'd know there's a bear flag forming in daily and weekly tfs. I was anticipating bitcoin market would reprice the upper band before dumbing but unfortunately it didn’t, instead it made a free fall probably gravity pull effected it (9.8m/s2) lol. Well the pattern is broken and price has been on free fall for some time, yes free fall.
Well in this my idea I’m going to share with you what might happen in the coming future.
Read down
Presently bitcoin market is pricing in its last support (weekly tf) 28k/
29K I expect a sharp pullback to 35k-37k if this sharp pullback does not happen I expect price to consolidate between 28k/37k um! Yes a pullback if the 228/29K support can hold, then the dump continues to complete the second leg of the pattern probably to a price below 15k. this now a bear market or a crash, because it’s going to be a dump above 70%. My crash limit. My last statement is what I want to believe is going to happen because of this reason "divergence".
There's a DIVERGENCE In the weekly and monthly tfs, a big divergence in my RSI this tells market must reprice the start of the trend (DEMAND zone/ACCUMULATION) except for few instances this zone is between 11k and 10k well this perspective is yet to be validated until the 28k zone is broken,
Let’s now ask what if this support zone 228/29K does not hold now, we can see maket complete the second leg (dump) in a short period of time.
Let’s keep what is going to happen when the second leg is completed for some other time.
In conclusion my second to the last statement becomes valid only when this 28k zone is broken and this made my dump/crash call below 15k valid there after
In addition if the 28k zone is broken bulls will find it hard to take it out. This might make Bitcoin to trade between below $15 and 28k for some time if at all there’s going to be a bull run. Well let’s wait till future events unfold.
Shared by Iroupatei for education purpose.
Anyways let’s get started.
if you had been following the bitcoin chart before this big dump you'd know there's a bear flag forming in daily and weekly tfs. I was anticipating bitcoin market would reprice the upper band before dumbing but unfortunately it didn’t, instead it made a free fall probably gravity pull effected it (9.8m/s2) lol. Well the pattern is broken and price has been on free fall for some time, yes free fall.
Well in this my idea I’m going to share with you what might happen in the coming future.
Read down
Presently bitcoin market is pricing in its last support (weekly tf) 28k/
29K I expect a sharp pullback to 35k-37k if this sharp pullback does not happen I expect price to consolidate between 28k/37k um! Yes a pullback if the 228/29K support can hold, then the dump continues to complete the second leg of the pattern probably to a price below 15k. this now a bear market or a crash, because it’s going to be a dump above 70%. My crash limit. My last statement is what I want to believe is going to happen because of this reason "divergence". There's a DIVERGENCE In the weekly and monthly tfs, a big divergence in my RSI this tells market must reprice the start of the trend (DEMAND zone/ACCUMULATION) except for few instances this zone is between 11k and 10k well this perspective is yet to be validated until the 28k zone is broken,
Let’s now ask what if this support zone 228/29K does not hold now, we can see maket complete the second leg (dump) in a short period of time.
Let’s keep what is going to happen when the second leg is completed for some other time.
In conclusion my second to the last statement becomes valid only when this 28k zone is broken and this made my dump/crash call below 15k valid there after
In addition if the 28k zone is broken bulls will find it hard to take it out. This might make Bitcoin to trade between below $15 and 28k for some time if at all there’s going to be a bull run. Well let’s wait till future events unfold.
Shared by Iroupatei for education purpose.
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