Ymoon715
Short

BTC at a critical point: Recovery or 3k

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
We have reached the point where its make or break for the crypto market.
There was a strong buying volume at 8k
However, we have many resistances to break before we ensure that the crypto market is back.
The resistances are drawn. If we fail to break the resistance, then most likely we will see BTC price fall to 3k.
We will most likely test the 6k if it fails to break resistance, and if the double bottom formed doesnt go through, then we are going to see 3k.

Break the resistance, then we might have another huge run to the moon. However I am leaning towards 3k.
There are too many people still interested in cryptos. It will have to get to the point where majority of the public no longer have faith in cryptos. I can see this happening once it drops to near 4k. Then the whales will initiate the massive buying.
The technology has not reached its peak yet. Too much development to do, not enough implementation in the real world yet for blockchain to just die out.
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Get Help Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing TradingView Coins My Support Tickets Get Help Ideas Published Followers Following Private Messages Chat Sign Out