So what if the bearish scenario fails and we continue bully mode? These scenarios are just possibilities and I post them just to give you an idea about the market, so it would be wise to always evaluate the market on both ways, especially there is no confirmation on either side. (I'm 60% on bullish side:)
I have given a lot of thought on this and the chart might look confusing but here's the idea simply put..
The prices should stay above the red trend as mentioned on chart, there is no time analysis to this price action but to give it as an example I would speculate like this:
-October close should be slightly above or close to next level of resistances on purple trend, which would indicate around 57-62k close to ATHs,
-followed by another bullish month in November which would take the prices upwards toward 80k where the market goes crazy..
-December we go for the 4th wave taking back to 60ks to retest previous ATHs
-January we got for the last push towards 90k to end the cycle for a big correction towards the 50ks lasting throughout the year
as I mentioned the time analysis can never be put right in these technical analysis but the price action similar to this one makes sense to me if we invalidate the bearish scenario, which will be linked to this post. Still waiting for the weekly close which is crucial
Happy trading,
Peace
I have given a lot of thought on this and the chart might look confusing but here's the idea simply put..
The prices should stay above the red trend as mentioned on chart, there is no time analysis to this price action but to give it as an example I would speculate like this:
-October close should be slightly above or close to next level of resistances on purple trend, which would indicate around 57-62k close to ATHs,
-followed by another bullish month in November which would take the prices upwards toward 80k where the market goes crazy..
-December we go for the 4th wave taking back to 60ks to retest previous ATHs
-January we got for the last push towards 90k to end the cycle for a big correction towards the 50ks lasting throughout the year
as I mentioned the time analysis can never be put right in these technical analysis but the price action similar to this one makes sense to me if we invalidate the bearish scenario, which will be linked to this post. Still waiting for the weekly close which is crucial
Happy trading,
Peace
İşlem aktif:
took the purple line as support now thats good :) Im watching this scenario compared to the alternative bullish one.
Yorum:
still watching the scenario. the 3rd wave seems a bit shorter than I thought but the idea is still valid until BTC shows otherwise. Watch the blue trend for resistance
