DO YOU THINK BITCOIN BULL RUN IS STILL ABOUT TO TAKE OFF✈️✈️✈️✈️
THIS CHART REPRESENT 50 DAYS TIMEFRAME SO EACH CANDLE REPRESENT 50 DAYS OF PRICE ACTION.
WELL TO CUT THE STORY SHORT DO YOU STILL THINK THE BITCOIN BULL RUN IS ABOUT TO START?
WELL AS IT IS RIGHT NOW THE CHART IS NOT LOOKING GOOD.
As you can see, the resistance line starts from 9595 to 10535 and the support line starts from 6824 to 6400.
So the question is can the bitcoin bull push the price above the upper resistance or will bitcoin break down to the lower support once more?
The bullish scenario: for me to be bullish, I need to see the present candle close above the resistance which is 10500 or at list close above 9600 in other to retest the 10500.
There is still enough time to hope for that because the candle still has 36 days left so a lot can still happen but it’s very important to close this current candle above 9600.
The Bearish scenario: if the current candle should closed below 9600 bitcoin will dump down to 6800-6400. That’s just the fact as you can see from the chart and we can only hope 6400 hold because the last time it failed we all know what happened.
For me I’m just a spectator as it stand. I’m waiting for this candle to close so that I can see the clear direction Bitcoin is going.
WELL TO CUT THE STORY SHORT DO YOU STILL THINK THE BITCOIN BULL RUN IS ABOUT TO START?
WELL AS IT IS RIGHT NOW THE CHART IS NOT LOOKING GOOD.
As you can see, the resistance line starts from 9595 to 10535 and the support line starts from 6824 to 6400.
So the question is can the bitcoin bull push the price above the upper resistance or will bitcoin break down to the lower support once more?
The bullish scenario: for me to be bullish, I need to see the present candle close above the resistance which is 10500 or at list close above 9600 in other to retest the 10500.
There is still enough time to hope for that because the candle still has 36 days left so a lot can still happen but it’s very important to close this current candle above 9600.
The Bearish scenario: if the current candle should closed below 9600 bitcoin will dump down to 6800-6400. That’s just the fact as you can see from the chart and we can only hope 6400 hold because the last time it failed we all know what happened.
For me I’m just a spectator as it stand. I’m waiting for this candle to close so that I can see the clear direction Bitcoin is going.