CryptoSep

This is not bad at all !! #Bitcoin

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Welcome to this quick update:

What a rough time for all of us !!
Bitcoin is crashing hard but should we worry about the future of this bull run?!
The answer is simply NO !!
even if we drop to $24K we are still bullish , but we should wait for a long time for another All-Time High in that case!!

But where is the rational level we may hit??

$28k is your answer.
1- It is exactly located at 0.61 Fibonacci level
2- There are some long wicks in the past in that area, which indicates a crazy demand zone

And after all, we should consider the reaction of other markets as well, if we are to crash below $20k
-Dollar should rise magnificently
-Altcoins will drop to their lowest level of all time
-$ETH will lose its bull run as well and drops below the $450 level
And you really think those institutional traders who have accumulated Bitcoin from $20k will let this happen??
I don’t think so…

So chill for now, there is no harm to exchange your bags to USDT, USDC ,... and BUY THE FKIN DIP whenever you can !!!!

What's the scenario here??
- We may retest the $33k level and then continuation towards $28k.
- In order to get out of this situation, Bitcoin needs to break above $32k-$33k and closes one daily candle above $34.8k, which is above the 21D moving average.

If you like this idea, please hit that like button so I do more of these. Thanks in advance :)

Comments

I totally agree we are going to 28k. Fractal from 2017 repeating.
+1 Reply
CryptoSep lucamodena
@lucamodena, Nice chart my friend, but I hope we don't create the same pattern as 2017, it is shame to lose this bull run so soon
Reply
every thing seems good tell me one thing why do you think that those institution that bought at 20 k havent already sold at 42k or wont sell before it hit to 20k again fotr them selling at 22 is still profit and buying it again below 20 k will be seen as an opportunity again
Reply
BTCforfun50 farzanamughal222
@farzanamughal222, damn man.... you insanely right! I gotta reconsider my longtime strategy. nice!
Reply
CryptoSep farzanamughal222
@farzanamughal222, Grayscale, one of the biggest holdings, has bought about 900 million dollars in the past week when Bitcoin was trading around $30k, you can check that those numbers are still intact so they are not selling.
if any other institutional traders are willing to sell, Grayscale will buy their orders IMO.
Reply
@CryptoSep,
well you are right but gray scale alone didn't helped btc achieve 40k mark
what i mean is that their are other players this time who jumped into it too
gray scale is a pioneer they will buy it coz they have opportunity to buy it low or high doesn't matter they make money with the percentage of profit weather its 10% or 100% or even -100% from their members
Reply
CryptoSep farzanamughal222
@farzanamughal222, Definitely they sold their bags at 42k otherwise we wouldn’t drop 10k in less than a week, so maybe most of them are out already but we know that there some that still interested to accumulate more in lower prices. The main reason I do not believe in black swan theory rn is that people with big bags have just started to notice Bitcoin and the crypto market has big opportunities. This is just my point of view of the future, I can be terribly wrong and we crash below 20k just like 2017.
Reply
@CryptoSep,
no you are right and you will be am just learning talking with peoples their point of views help me understand more i hope you wont take me as a muttering mumbly
+1 Reply
CryptoSep farzanamughal222
@farzanamughal222, Keep up the good hustle man, you are on the right path. I do like to discuss about my own ideas so thanks ;)
Reply
Btw from which points did you measure your Fib ?
Reply
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