Hi everyone,
Welcome to another Bitcoin update. I present the ***Bearish scenario*** for Q4 2019. (so as to always keep an open mind and examine all options).
It's all self-explanatory in the chart.
Basically, this savage drop to retest the previous bear market S/R levels (which is the target of this Summer's Head & Shoulders formation) around the $6.4k levels. Then slow grind upwards to retest the 2019 ATH @ 13.8k towards December of this year.
This is the ***bearish scenario***. It's not to be dismissed; yet I only give it a 40% probability.
I believe it's more likely that this week would be a wick to the downside (maybe $7.5k levels), followed by a strong V-shaped recovery back up into this summer's triangle formation ($10k levels). Then bullish continuation continues towards 20k towards EOY. I give this scenario, the ***bullish scenario***, a 60% probability since we are clearly in a Bull market since April 2019.
Cheers,
Leb Crypto
Welcome to another Bitcoin update. I present the ***Bearish scenario*** for Q4 2019. (so as to always keep an open mind and examine all options).
It's all self-explanatory in the chart.
Basically, this savage drop to retest the previous bear market S/R levels (which is the target of this Summer's Head & Shoulders formation) around the $6.4k levels. Then slow grind upwards to retest the 2019 ATH @ 13.8k towards December of this year.
This is the ***bearish scenario***. It's not to be dismissed; yet I only give it a 40% probability.
I believe it's more likely that this week would be a wick to the downside (maybe $7.5k levels), followed by a strong V-shaped recovery back up into this summer's triangle formation ($10k levels). Then bullish continuation continues towards 20k towards EOY. I give this scenario, the ***bullish scenario***, a 60% probability since we are clearly in a Bull market since April 2019.
Cheers,
Leb Crypto