2 things : Bounces and volume. First, we can see that from the 6k base, bitcoin has had 4 bounces which are smaller & smaller and weaker & weaker. This indicate that this base lose strength and that we should not be surprise to see the 6k base not be able to hold the price. Second, the volume is lower & lower on each bounce. This also mean that this base lose strength and that less and less buyers are there to support the price at this level which eventually should lead to a base crack.
So, on a technical perspective, probabilities are for a 6k base crack soon. To what price ? I don't know, but I expect at least 5k. Just buy the drop guys.
And remember, the more you put pressure on a support or a resistance, the more it should break.
Stay tuned for more updates,
Fred
So, on a technical perspective, probabilities are for a 6k base crack soon. To what price ? I don't know, but I expect at least 5k. Just buy the drop guys.
And remember, the more you put pressure on a support or a resistance, the more it should break.
Stay tuned for more updates,
Fred
Comment:
Ok so as expected the 6k base has been craked last week. I think this is the capitulation phase, I'll publish couples of analysis this week so stay tuned !
