After 2 times a rejections of our previous triangle, Bitcoin is now forming a descending triangle that's means it's more likely to break down.
I prepared myself and found some strong support area's on the daily and the vpvr confirmed this.
The measured moved price target is around 20K, but I really doubt that we are going that low. But not impossible of course!!
In my opinion 23/24K is more likely to be our bottom why:
- Support Weekly EMA
- Correction of 43% ( Normal correction assuming previous bull market )
- Strong support VPVR
- 0.5 fib retracement
- Big CME gap to fill
( But, if we break the downslope resistance, forget all this crap )
FOLLOW ME!
I prepared myself and found some strong support area's on the daily and the vpvr confirmed this.
The measured moved price target is around 20K, but I really doubt that we are going that low. But not impossible of course!!
In my opinion 23/24K is more likely to be our bottom why:
- Support Weekly EMA
- Correction of 43% ( Normal correction assuming previous bull market )
- Strong support VPVR
- 0.5 fib retracement
- Big CME gap to fill
( But, if we break the downslope resistance, forget all this crap )
FOLLOW ME!