1°) Bitcoin line of life will break and the market will create new lows. Higher probabilities
2°) Last chance for Bitcoin if the market decides to reproduce this scenario of the H&S Bottom without creating new lows. This could happen if the Bitcoin structure rejected more lows and decided to produce the H&S bottom at higher usd levels than Nikkei did. Lower probabilities.
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The shorts are very close to the previous April all time high on a certain trading exchange. If a short squeeze happens, which is a possibility, then it could create a new bull market start. Trying to be neutral with this market makes it beeing a possibility. This is not the likely scenario, but there is still a possibility. Always think you are wrong about a scenario, a prepare for other scenarii.
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Trend change very likely atm
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Again, i rarely see anyone talking about it, but i will say it again, the 2 hours chart is actually very important to understand Btc moves
Detailed comparison between 2014 and 2018 Guys its awesome.
BTC seems to bounce as largely expected of people that 58XX zone will do the magic. I saw a great analysis on the log scale showing exact price action on a re-test of major level. It worth looking at. If this is correct then BTC will be on with a great moves.
Giovi6969
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@weslad,
Why are you spamming this chart on every TA?
weslad
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@Giorgioversace, you are free to do same on my chart if you wish. Just to spread idea.
BCryptological
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Excellent comparison of market behaviour. By the look of your charts that would see BTC drop to around $5000, bounce back to $5800 (current support and would become resistance), before bottoming out around $3500 and heading back to $7500, etc. Will be incredible if all that plays out!
Giovi6969
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@BCryptological,
This is very possible indeed.
Markets can show humans behaviour repeating itself again and again, so i won't be surprised if it reproduces one of these two scenarios wth very similar fractals lol
Cryptopile
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@Giorgioversace Shorts super high. Squeeze coming you think?
Giovi6969
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@Cryptopile,
Possible.
But paradoxically when the last hope of a market save is a short squeeze this sounds very bearish.