#bitcoin $BTC printind the end of this bear market?BTC has been trending downwards for more than 200 days, and is currently printing a bullish engulfing candle on the weekly timeframe!
if we close this candle above the previous candle's open price, which is about $21038 , we can expect an uptrend to start, which is what happened last time we had a bullish engulfing candle at the end of a downtrend: last year, in July
let's hope we close above 21k tonight!!
could this be the end of the bear market?
I think it might be, but we of course need some more confirmation to be sure it really is
let me know what you think about this idea! personally opened a BTC long :)
Bitcoinendofcorrection
BITCOIN END OF CORRECTION 1st Scenario BIG PICTUREThis is one posible scenario for BTC, I will publish another one.. If we get a good bounce from 7800 -8200$ level, we could asume that wave 3 is starting and it will get a break out of the dowtrend channel. End of correction, But if 7800 Support Breaks down, then we could hit 5.000-6.000$ again, to do a double bottom.. but this is less likely, feel more positive news about BTC
1 day Candlesticks chart