This spike was totally unexpected... I thought BTC would probably go touch 6k and then correct, but I never thought it would directly go all the way up to 8k xD I got a little rekt on this one... Sold my bitcoins way too soon a bit over 5k expecting to buy back at 4...
Anyway, what's next for bitcoin price ? Well, it will correct. The correction has already start actually with a top at 8.35k and a dip all the way down to 6.2k. However, I don't think it is over yet. we're stuck in a beautiful bear flag on the 1h and the 4h charts and it really looks like bitcoin might go down to 5.5k and maybe a little bit lower. I'll buy back around that price.
Good news tho, with that incredible 6k breakout, I think bitcoin is no longer in a bear market and is ready to start a new bull run, we just need a solid healthy correction before to continue to move up.
I don't think bitcoin will go under 5k, but if it does, 4.2k is the next support.
All right guys, the low is in, the bear is out and the bull is running... Pretty damn fast !
Have a good trading sesh,
Fred
Anyway, what's next for bitcoin price ? Well, it will correct. The correction has already start actually with a top at 8.35k and a dip all the way down to 6.2k. However, I don't think it is over yet. we're stuck in a beautiful bear flag on the 1h and the 4h charts and it really looks like bitcoin might go down to 5.5k and maybe a little bit lower. I'll buy back around that price.
Good news tho, with that incredible 6k breakout, I think bitcoin is no longer in a bear market and is ready to start a new bull run, we just need a solid healthy correction before to continue to move up.
I don't think bitcoin will go under 5k, but if it does, 4.2k is the next support.
All right guys, the low is in, the bear is out and the bull is running... Pretty damn fast !
Have a good trading sesh,
Fred
