EWHALE

Next Target Breaks $10,000

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Next Target Breaks $10,000

I only do this idea because my last one is most likely wrong.
There I gave you 2 scenarios that are not correct, because I assumed that Bitcoin will drop a little further.
Sometimes it's good to hold back and see how the market behaves.
And it looks like the correction is over sooner than expected.
Nevertheless, this is a pattern, which I have already suggested in the last idea, a running flat.
As a result, the yellow box is still the zone where we need to be careful.
In my opinion, despite the drop, there are still many longs open, and as soon as we break the $10,000, it'll be more when I look around Tradingview.
This is the perfect moment for smart whales to sell all their bags so the price should not rise any more.
But we should first see how the market will react.
It is too early to make such a prognosis.
For now, the market should be bullish for a few days.

Note: Altcoins should go up one more time.
Comment: To be honest, that could possibly test $9,000 and trigger some sell orders before it goes up.
If you want to be sure, wait for a breakout of the trendline you can see below.
Hope you do not panic by it.

Comment: I'm sure many have a stop loss below the line and people will start panic as soon as we break it:

Comment: I am sorry that I am currently changing my mind, usually this does not happen often.
But it may actually be that we could experience a heavy drop until May 10, so that one of the 2 scenarios of my last idea will be right.
The reason for this is that a SEC hearing takes place in 2 days.
It's very likely that they talk about regulations on cryptocurrencies if I'm not mistaken (if you know more then write in the comments).
Anyway, I'm still very confident that we will break the $10,000 in the near future.
That's what the chart says - therefore I expect good news short term.
The only question is which target we will see at this correction until the meeting.
Comment: I would recommend only to buy, when we break the trendline on Bitcoin (around $9300).
Otherwise I would stay away.
But it is your decesion.
Comment: Bitcoin didn't break $9,300, but impprtant support of $9,100.
Let the psychological games begin.
Watch at the last idea for it.
My Bitcoin Cash targets are at around $1,400 and $1,200

Comment: I would just enter, when we break $9,300. Otherwise going to $8,000 area.
Comment: Wait for a break of 9300 and you can enter.
This should be an impulse to break the $10,000.
Comment: This is how whales play with emotional people.
Never fall in panic,

Comments

The reversal candle had a rather meager volume which could indicate a simple retrace to 0.61 fib at 9300 before the next drop below the trendline.
+1 Reply
Plus your yellow block is about where the 200 moving average is. It should be a good support as in the past. BTW, these are just my opinions, I place a lot more weight on your analysis. Thank you for the updates.
+1 Reply
Agreed! Thanks!
+1 Reply


possible 2 shakeouts - or Shooting to the roof
Reply
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