AlanSantana

🅱️ Alert! Bitcoin's Imminent Correction Potential Exposed!

AlanSantana Updated   
INDEX:BTCUSD   Bitcoin
Bears and bulls, zero FOMO, NO PANIC... This has happened before.

We can be looking at Bitcoin with a pre-defined perspective, a well thought-out map/plan about what is going happen, how everything will go and what "must" happen because of this reason or x reason...

The market cannot be controlled.

Ask the November 2022 bears who are still expecting a major correction to 15,000, 13,000 and 11K.
These bears say that Bitcoin is crashing now because the rise is "fake".

Ok... No fake rise that's for sure but what about the correction short-term?

A frequently asked question lately goes as this: "How far down will Bitcoin go in this correction?"

As well as the most popular one: "How long will the correction last?!"

The truth is that the market is 100% random and certainly unpredictable.

Bitcoin is most likely to continue crashing, lower and lower towards 40,0000 (40K).
This correction can continue and hit higher, even higher, 42,000, 46,000 and even 48,000 before the new year breaks.

Yes, the Bitcoin Spot ETF will be something special for the bears, as thats when the major correction will take form but, can Bitcoin hit 50,000 or 60,000 within the current crash?

The bears are saying no.

One thing is certain though... We can expect a correction but not likely to go below 20K.
If Bitcoin does breach this level, expect it to happen fast, a wick lasting a few hours only or a day at max... Then we are back green, looking good and moving up long-term.

But what about the current crash situation?

What about it?

Bitcoin is going up!

Namaste.
Comment:
Consider Bitcoin's daily RSI

The RSI hit its highest level in January 2023 as Bitcoin broke from 17,000 to 19,000, the RSI becomes "overbought", what happens next?

In the proceeding months Bitcoin moves forward to hit 23,000, 28,000 and 31,000... The highest RSI reading in years signaled the start of the new bullish trend.

Now the RSI hits its highest level since January 2023.
As the RSI moves up in October Bitcoin grows from 25,000 to 27,000 to 31,000 to 35,000 and signals the start of the new bullish wave.

We can expect additional growth for Bitcoin and the Cryptocurrency market based on this RSI signal.

Thank you for reading.

Namaste.

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