Hi BTC lovers. It has been a very confusing week for btc during the consolidation. Monthly candle was vo ugly. Here's something we may consider to play for
BIAS: Shor term bullish
1. ETF rejected or delayed all the time and price has dumped. So the etf bad news are irrelevant for now.
2. Market become oversold levels for the first time for 3 years. So, a strong bounce is possible
3. Weekly and daily divergences are telling us huge bounce is on the way.
4. We fall well beyond weekly ichimoku cloud. Backtest to the cloud is possible upcoming months.
5. Time indicayors and time cycle lows are in
6. Shitcoin charts shows most of them bottomed or just close to bottom
7. This drop market gained fresh money, not like the 6k bottoms.
8. 3 wave ABC correction might be finished on long term scale
So there is a strong possibility to test 5-6k levels. It should reject in my opinion but who knows? IF we go up we should watch how we go and how the rejection will be. These are the most important parts of the question "is the bottom in?"
My ultimate bottom target: 3200 USD (but not this year)
Long live BTC
BIAS: Shor term bullish
1. ETF rejected or delayed all the time and price has dumped. So the etf bad news are irrelevant for now.
2. Market become oversold levels for the first time for 3 years. So, a strong bounce is possible
3. Weekly and daily divergences are telling us huge bounce is on the way.
4. We fall well beyond weekly ichimoku cloud. Backtest to the cloud is possible upcoming months.
5. Time indicayors and time cycle lows are in
6. Shitcoin charts shows most of them bottomed or just close to bottom
7. This drop market gained fresh money, not like the 6k bottoms.
8. 3 wave ABC correction might be finished on long term scale
So there is a strong possibility to test 5-6k levels. It should reject in my opinion but who knows? IF we go up we should watch how we go and how the rejection will be. These are the most important parts of the question "is the bottom in?"
My ultimate bottom target: 3200 USD (but not this year)
Long live BTC
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