Hi Traders!
Today we look again at bitcoin. On September 23, 2019 BAKKT institutional trading will be launched and bitcoin is waiting for more significant movement.
We are currently tracking 2 main and priority scenarios:
BULLISH SCENARIO
All summer we are in one huge triangle and before launching BAKKT the price grow up. Why could it be a triangle? Triangles are characterized by very low volumes, stop-loss hunting, but often times boredom and activation of stop-losses on both sides. The graph fits exactly into the triangle formation, and this formation is absolutely typical of the fourth wave we are currently in. It also serves to reduce indicators with a minimum price drop. Once this happens, the chart is ready for further growth.
BEARISH SCENARIO
The bearish scenario is a channel that is still in game. In this case, bitcoin could drop somewhere between $ 7000- $ 8,000, where there is strong support. Given the fast growth from $ 3,500 to nearly $ 14,000, it would still be an acceptable correction that we could consider normal.
We have written down two scenarios that have been in the game for several days and we have to wait for the graph to evolve. However, until we break and confirm one or the other formation, the predictions are useless. All we have to do is wait. In a few moments, BAKKT starts and the bitcoin is ready for the next move.
May the crypto be with you!
Today we look again at bitcoin. On September 23, 2019 BAKKT institutional trading will be launched and bitcoin is waiting for more significant movement.
We are currently tracking 2 main and priority scenarios:
BULLISH SCENARIO
All summer we are in one huge triangle and before launching BAKKT the price grow up. Why could it be a triangle? Triangles are characterized by very low volumes, stop-loss hunting, but often times boredom and activation of stop-losses on both sides. The graph fits exactly into the triangle formation, and this formation is absolutely typical of the fourth wave we are currently in. It also serves to reduce indicators with a minimum price drop. Once this happens, the chart is ready for further growth.
BEARISH SCENARIO
The bearish scenario is a channel that is still in game. In this case, bitcoin could drop somewhere between $ 7000- $ 8,000, where there is strong support. Given the fast growth from $ 3,500 to nearly $ 14,000, it would still be an acceptable correction that we could consider normal.
We have written down two scenarios that have been in the game for several days and we have to wait for the graph to evolve. However, until we break and confirm one or the other formation, the predictions are useless. All we have to do is wait. In a few moments, BAKKT starts and the bitcoin is ready for the next move.
May the crypto be with you!