Is history going to repeat? BTC/USDT
Hi all,
Bitcoin shows me a pattern that looks suspiciously like the pre-announcement of the dip in May. I don't like to predict the market myself, so I'm definitely not going long or short based on this information. However, these are indicators for me to be alert.
What corresponds to May?
1 and 2 have already been implemented.
Possible scenario 1
It may be that price drops even further. if that happens, then I shift the Fibonacci with it. If not then the 0.61 - .81 zone is interesting for me to keep an eye on. This zone corresponds to the decrease earlier in November. This is also an area where manipulation can arise for long contracts. Only when this happens I will look at an opportunity to go short. Price action on lower timeframes is important here
Possible scenario 2
Scenario 1 is currently predicting the market. As I mentioned, I do not enter into trades based on this current data. We need a lot more data to explain future rises or falls. Another scenario is that we see a temporary consolidation and then rise further in the longer-term trend.
What is your view on bitcoin?
Bitcoin shows me a pattern that looks suspiciously like the pre-announcement of the dip in May. I don't like to predict the market myself, so I'm definitely not going long or short based on this information. However, these are indicators for me to be alert.
What corresponds to May?
1 and 2 have already been implemented.
Possible scenario 1
It may be that price drops even further. if that happens, then I shift the Fibonacci with it. If not then the 0.61 - .81 zone is interesting for me to keep an eye on. This zone corresponds to the decrease earlier in November. This is also an area where manipulation can arise for long contracts. Only when this happens I will look at an opportunity to go short. Price action on lower timeframes is important here
Possible scenario 2
Scenario 1 is currently predicting the market. As I mentioned, I do not enter into trades based on this current data. We need a lot more data to explain future rises or falls. Another scenario is that we see a temporary consolidation and then rise further in the longer-term trend.
What is your view on bitcoin?
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