Argument for Boom...
- whales can manipulate on low volume and cause a fomo rally
- Support of weekly 70 ema (I use 70 as bitcoin trades 7 days a week)
- nice bounce from .618 retracement of recent pullback
- most recent price action moving in bull flag with target $20k +
- market in overall weekly uptrend
Argument for bust...
- low volume and hype surrounding crypto
- bitcoin fundamentally still pretty useless
- reaction to weekly .618 retracement level at
13K
- we could be working on elliot wave C to the downside
- most recent price action forming potential head and shoulders targeting sub $1k. neckline around .618 level.
I am currently hodling a small portfolio and looking to add to that. I expect the market will decide around the end of the year.
- whales can manipulate on low volume and cause a fomo rally
- Support of weekly 70 ema (I use 70 as bitcoin trades 7 days a week)
- nice bounce from .618 retracement of recent pullback
- most recent price action moving in bull flag with target $20k +
- market in overall weekly uptrend
Argument for bust...
- low volume and hype surrounding crypto
- bitcoin fundamentally still pretty useless
- reaction to weekly .618 retracement level at
13K- we could be working on elliot wave C to the downside
- most recent price action forming potential head and shoulders targeting sub $1k. neckline around .618 level.
I am currently hodling a small portfolio and looking to add to that. I expect the market will decide around the end of the year.
Note
Price has broken below the neckline of the head and shoulders, the .618 and the weekly 70 ema. Things are not looking great for the bulls.
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.
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.