BTC Bearish BAT harmoninc target $65K
We see a bearish bat forming on a daily chart and we can take this as future price projection. I suspect that this pattern will surely complete once 0.382 level is reclaimed.
To add confluence to this analysis, Weekly oscillators are pretty much flipping bullish.
Another confluence is that on 12H chart we see a possible golden cross happening in coming days (Golden cross occurs when 50 days moving average crosses above 200 days moving average) Last time this occurred on 12th august 2021 and price made ATH 69k.
I am biased bullish, Lately I was biased bearish since before November. Capitulation doesn't seem to be happening and it seems that cycle is changing i.e., No more 4 year cycles.
Bearish Scenario : If price goes below 38K level ONLY then it will be total bloodshed.
To add confluence to this analysis, Weekly oscillators are pretty much flipping bullish.
Another confluence is that on 12H chart we see a possible golden cross happening in coming days (Golden cross occurs when 50 days moving average crosses above 200 days moving average) Last time this occurred on 12th august 2021 and price made ATH 69k.
I am biased bullish, Lately I was biased bearish since before November. Capitulation doesn't seem to be happening and it seems that cycle is changing i.e., No more 4 year cycles.
Bearish Scenario : If price goes below 38K level ONLY then it will be total bloodshed.
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if you want to get daily future/spot calls, Join our Premium discord by clicking on the following link
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.