OptimoomFX

Bitcoin- Bulls need to hold 57k intact

Short
COINBASE:BTCUSD   Bitcoin / U.S. Dollar
When it comes to bitcoin , you can say anything, except that the price will fall. But let s be realistic, not even trees grow to the sky and this last bull run already reached 600% and a 30% correction is beneficial for the main cryptocurrency at this point.
From a technical perspective, bitcoin has a clear and strong ceiling above 60k and now is consolidating in a very tight 5% range.
57k is the floor at this point but I don t see here a lot of buying pressure but more of a lack of selling, just for price to rebound.
If or when bitcoin will break under, I see it tumbling quickly to 52k support and, a break here would confirm a double top and has as a target 40-42 zone.
A spike above 60k is not out of the question though but even with this I will remain bearish on medium-term
Comment: At this point btcusd is back to horizontal resistance. If it will reverse from here, it will break the trendline and we will have a deep dive. If it goes above, then my bearish scenario will not pay off and indeed we are going to new ATH.
My trade at this point is with SL in BE
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Comments

No one has a crystal ball, I have my own balls. They don’t tell me shit. They just stink and itch, fools.
+12 Reply
StephBour G-Smoothie
@G-Smoothie, it itchs when you are late for shower usually,,,. Also they will host your futur yourself ie son, show them some respect :D
+2 Reply
53-54k could set us up for the largest inverse head and shoulders we've ever seen. With a target of 68k.
+10 Reply
OptimoomFX Beardseye
@Beardseye, my friend, h&s is reversal pattern, not continuation pattern.
You can argue a ascending triangle for up
+4 Reply
thevenox33 OptimoomFX
@OptimoomFX, moonbois are like - everything is bullish sign
deluded street will bleed soon
smart money already quit
+3 Reply
@OptimoomFX @OptimoomFX he meant Inverse H&S you can see it on 4h and 6h it’s massive
Reply
Don't worry Tether will print billions to pump it again Lol
+7 Reply
the lowest we will test is 53k!
+5 Reply
42 k incoming
+5 Reply
@ribi, i think so:)
Reply
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