Potential reversal of Bitcoin
Updated
Before starting an another bitcoin prediction i want to make it clear, I have been long from 19k level and bought some altcoins as well like Theta, Chainlink and Avax, I am okay if btc does another leg down. I have only invested small portion of profit which i did last May 2021.
BTC is either collecting orders at support level or taking a break for another leg down. However my estimation is bull up for upcoming reasons
BTC is either collecting orders at support level or taking a break for another leg down. However my estimation is bull up for upcoming reasons
- Fear and Greed Index, Whenever Fear is lower than 15, it is a good time to go long, whenever greed is higher than 80, prepare to drop your bags)
- 20k zone, This zone was a peak of 2017 bullrun and so many investors are either going for BE or adding to their position.
- BTC is making HL, each pullback is leaving higher HL on the chart, this means BTC can go parabolic on potential bull run.
- Despite of high FED interest and high inflation, markets did not give up as much as Covid panic, this makes me thing that maybe BTC is outperfom rest of the indices.
Wish you all the best luck guys.
Risk management if we break 26k i will bring my SL to BE which is about 19k, same goes for my altcoins as well.
Good luck
Trade closed manually
Closed around 24k, momentum got lost and sold all altcoins at resistance levels, waiting for another leg down
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