btc to 29300 Hello traders ,what do you think about Bitcoin ? This is a fractal analysis of Bitcoin
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29K
If BTC Loses $29K...If BTC loses $29K support, where will the bottom form? If previous major resistance tends to become future major support, then to predict BTC's bottom you need to determine previous major resistance.
Reasoning:
- Major future support = previous major resistance.
- $10,000 - $14,000 was a strong multi-year resistance area leading up to the most recent bull run.
- Once broken, there was very little resistance at the $20,000 level before price blasted higher, despite $20K being the 2017 all-time-high (you'd figure sellers would be there).
- Therefore, $20,000 was not previous major resistance, since there was relatively little price action at that level overall.
- Previous major resistance is the $14,000 - $10,000 zone.
- Therefore, future major support is most likely $14,000 - $10,000.
***$20,000 is a strong psychological support level, but not probable as major support from a price-action perspective.
I hope I am wrong.
Adrian
BTC above(46k) before next dip to below(29k) before 2024 bullBTC above(46k) before next dip to below(29k) before 2024 bull
rsi 14 (orange) coming below 50 will be a buy zone
i myself waiting for rsi 14 to come below 50 and btc to come below 29k and will start to accumulate after 2023 march, that'll be enough
Whale(s) just shorted Bitcoin at $36k, $29k next?Greetings on a grey Sunday here in the UK...(plz thumbs up and follow)
watching the markets and just saw a huge amount of shorts opened up at around $36k
expect a push towards lower prices, it's possible we could break the lows earlier in the week but honestly $29k seems to be the target using my spider-sense, I'd keep some liquidity spare just in case, its going to crush the whole market if it does and tour looking to DCA if you're in the hodl game
other indicators show a bullish outlook but could be a massive trap so I'm hesitant and going where the big money wants it to go
So pretty bearish outlook, but i never like to bet against bitcoin, use proper management if you do
tonight when markets open will give a good indicator to the week ahead hopefully and monday morning/afternoon im expecting a few fireworks either way towards $29k or a pretty solid rally back towards $40k
have a great weekend, dont forget to comment and thumbs up/share my charts if you think they can help people !
JUST AN EXPECTATIONWassupppp
These days are important days. Like i said in a previous chart; its the dicision time.
Will we stay on the trendline, and hold the 40k as support?
Or will we lose the 40k and go into the 29k direction.
I personally think we will hold it.
This, because the support here is massive.
And secondly, the market does the unexpecting. Many people think it wont hold and will drop.
Obviously this is just an idea, so well lets just make ideas, and see what happens :)
Regardsss
Make or break moment for BitcoinBitcoin is in a critical situation where it needs to hold the long term trend line for a last chance to continue the bull market. If BTC loses the trend line, we are most likely heading towards 29K. The market structure could be interpreted as Inverse Head and Shoulders, but the last time it hit the line, it played out the opposite. Some analogies can be done in both structures (1,2,3) looking like some fractal pattern.
THE ONLY WAY IS UP FROM HERE | TYPICAL TRAPWe will go tomorrow up. There is no question about that.
This looks for me like a beartrap. Just like we saw in the 58k area, and the 29k area.
Big move down, small consolidation, and the same way up and higher.
