I anticipate Bitcoins two years bull run is coming to an end, and will continue to slowly correct over the coming weeks.
Chart above is a possible scenario.
BTC is hanging by a hair on 1D 50 Moving Average which also aligns with a trendline that's been holding for now.
We saw a touch yesterday, and we'll likely see a break in the coming hours.
Breaking 1D 50MA support will take us straight to 11 - 12.5k area which needs to prove another strong bounce by the bulls in order to avoid another big correction.
If 11.5 - 12.5k area is not able to hold, i expect a further downward movement which will take us to 9.5 - 10k area.
Here lies the 100D MA and another important trendline we previously have seen strong bounces from.
9.5 - 10k support area will likely produce a good bounce. Bulls might be able to take it higher than .5 fib and try to turn the trend back to bullish. I believe odds are it won't succeed and will dump further to the bear target in a massive panic sell off, all across the crypto market.
Bear target: 6.5k
Extended fib target: 5k
Remember News doesn't move markets, but they catalyst events that's bound to happen.
That said, we are seeing a lot of FUD all across the board which also speaks for a bear scenario.
Chart above is a possible scenario.
BTC is hanging by a hair on 1D 50 Moving Average which also aligns with a trendline that's been holding for now.
We saw a touch yesterday, and we'll likely see a break in the coming hours.
Breaking 1D 50MA support will take us straight to 11 - 12.5k area which needs to prove another strong bounce by the bulls in order to avoid another big correction.
If 11.5 - 12.5k area is not able to hold, i expect a further downward movement which will take us to 9.5 - 10k area.
Here lies the 100D MA and another important trendline we previously have seen strong bounces from.
9.5 - 10k support area will likely produce a good bounce. Bulls might be able to take it higher than .5 fib and try to turn the trend back to bullish. I believe odds are it won't succeed and will dump further to the bear target in a massive panic sell off, all across the crypto market.
Bear target: 6.5k
Extended fib target: 5k
Remember News doesn't move markets, but they catalyst events that's bound to happen.
That said, we are seeing a lot of FUD all across the board which also speaks for a bear scenario.
İşlem aktif
It's starting Not
Well defended bulls, 13.3k holds for now.Likely a 16k test will be followed now, and then we see wether we go higher or lower from there.
İşlem aktif
First target hit, It's very likely we will see a bounce from this area.İşlem aktif
Reckoning day is here.İşlem aktif
All on track.İşlem kapandı: hedefe ulaştı
Target hit, likely pullback to 10k from here,Not
Extended target looks like a reasonable final target for this correction. Prepare for the final bear run.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.