This is just a classic support resistance, accumulation distribution, fractal recombination, chart pattern. I will do a detailed write up later, bounce scalp/buy zones marked with horizontal lines. I don't know why this would play out exactly, but it is what the chart suggests.
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as I hinted in my first chart in this series, whales have sold all of their bitcoin, now they need to buy them back cheap. so we can expect bitcoin to go to the next accumulation zone, between $5000, and $3000, I do realize that is sounds silly, but it is how my charting system works, and my charts simply indicate that is what could happen. Please take care trading until we see a clear direction for bitcoin. I don't have anything to add to this. Good luck.
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zones for bounces are on the chart, they are just approximations, but should be pretty close.
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Next buys are $5200, but could see a bounce here, maximum risk!
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hi guys, sorry I've had computer problems and I missed such an important week! have you pressed play on this chart? its all going to plan. Wow there are a lot of shorts, and everyone is talking about a short squeeze. here's a list of stuff, Everyone talked about concensus pump, everyone talked about June 6, everyone talked about ETF, lets just trade the chart. did you see the h4 bull div on btc last week, led us here, gave alts space to pump 50-100% wow, that was a crazy week? welcome to the Jungle. this is my latest chart, if you haven't notice, I do not pretend I know that x event will lead to y price action, I trade the chart. bull is confirmed if 6600 level is broken with ascending volume, then the shorts would get squeezed, the chart shows we are going down, with targets based on measurement (not some made up future event). and bearish confirm a breakdown of 6190. good luck!
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Remember how many people talked about the concensus dump, the etf dump, the short squeeze in April, yeah me neither.
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if the crypto market cap crosses and holds over 232 billion dollars I will review my bearish bias mid term. until then I will remain bearish.
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lol at 233 billion.
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