Good afternoon my fellow cryptocurrency trader, let's have a look at Bitcoin on a different timeframe today.
We are looking at the 3D (3 days) chart and we have some interesting signals...
Support us with your LIKES and let's get started! ---
First, notice the candle on 22-January 2022. This is a reversal candlestick in the form of a hammer. This candlestick has really high volume, twice above average.
After this candle Bitcoin grew by 46% in a matter of two months. From ~$32,900 to ~$48,200.
Right now we have a similar candle printed 18-June 2022. This is a reversal candlestick in the form of a hammer, you can see it mapped on the chart. This one here is really high volume as well compared to previous trading days.
We also have the RSI at its lowest since November 2018. Once Bitcoin hits oversold, invariably things turn and we see green.
After this candle Bitcoin can grow 100 to 120% in around 60 days. That is from $17,500 to $35-38K.
The cryptocurrency market sentiment is slowly changing... It remains in "Extreme fear" but has gone from 7 to 13.
It doesn't matter how long consolidation takes, we are bullish on Bitcoin above 20K.
I do believe this is possible but I'm only thinking 25k to 28k then a sudden drop
MPH_
⋅
I guess this is certainly possible but sometimes I think you just post any potential scenario that comes to your mind, even if it is not of quality. No offense. Just acknowledge the likelihood, maybe. This is highly unlikely right now.