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BTC: The Return to 15k Begins as Market Shows Signs of weakness!Upon examination, it is evident that the price is forming a head & shoulder pattern, indicating a weakening trend! If the price breaks below the neckline, the return to 15k will begin! It is, therefore, advisable to keep an eye on the neckline in case it breaks to the downside! It also appears that the current market period is unfolding similarly to the one observed in 2021. If this trend continues, it is likely that the market will experience a downward movement, potentially leading to a decline in value to 13.5k. While it's true that history doesn't necessarily have to repeat itself, it is often observed that historical patterns tend to rhyme with the present. Furthermore, the price got rejected from the bear market downtrend resistance! There is a possibility that the recent bear market rally has come to an end. The rejection from the downtrend resistance indicates a potential move to the previous bottom of $15.5k. This notion is consistent with the concept of the price following a pattern reminiscent of the 2021 summer period!
Short
by MBM_Crypto
20
BTC - A wick up & A wick down!This scenario exemplifies a classic case of a bull trap, whereby the market deceives investors into believing that an upward trend is imminent before rapidly reversing course. In the current climate, the bear market is merciless, causing losses for both bullish and bearish investors alike. Thus, adopting a cautious approach and waiting for prices to decline before initiating long-term investments is advised to ensure security. And upon further examination, it is evident that the price got rejected from the bear market downtrend resistance! There is a possibility that the recent bear market rally has come to an end. The rejection from the downtrend resistance is indicating a potential move to the previous bottom of $15.5k. This notion is consistent with the concept of the price following a pattern reminiscent of the 2021 summer period! Furthermore It appears that the current market period is unfolding similarly to the one observed in 2021. If this trend continues, it is likely that the market will experience a downward movement, potentially leading to a decline in value to 13.5k. While it's true that history doesn't necessarily have to repeat itself, it is often observed that historical patterns tend to rhyme with the present. In conclusion, it is anticipated that the price will continue to exhibit a downward trend, with a likelihood of revisiting the 15k level in the future.
Short
by MBM_Crypto
2
Possible RoadMap For BTC! Will It Play Out?Hello Traders & Spectators, When looking at BTC, we can see that it is currently trading in a range similar to the one right before the last sell-off to the 17k zone. I went ahead and did a fractal to see how this may play out in the upcoming weeks. So far, it's very interesting how close the candle patterns are. This should be fun to watch over the next few weeks and tbh I wouldn't be surprised if it plays out exactly. My target is 13k. This fractal shows 9k... Not impossible with today's geo-political issues and mass liquidations and stopped CENTRALIZED Exchanges. NOT YOUR KEYS, NOT YOUR CRYPTO.... right? Love it or hate it, hit that thumbs up and share your thoughts below! Don't trade with what you're not willing to lose. Safe Trading, Calculate Your Risk/Reward & Collect! This is not financial advice. This is for educational purposes only.
BITSTAMP:BTCUSD
by rnaofs