On this chat we have two possible outcomes which need to be confirmed by the gragh before we can make any decisions, now $BTC is holding on a very strong support(19000-21000) which might act as both bear/bull market in the near future.
If the market structure decides to break for a bear market, we might see a huge market collapse as as we will nbe breaking the red trend line and a strong support, price will bounce around the 10000-11000 price and retest the breackout point then it will move down again in search of another strong support zone which will act as our demand price around 3500-6000,that won't be so good for many long term investors, short term investors can take advantage if they are in the right direction
If $BTC decides to holdd the support, we will see a steady recovery, the market might range for a while, eventually the price will break break up above 19000-21000 price to bounce around 28000-30000 and retest the break out point andmake a clear and visible W to confirm up trend formation all the way up to new highs, 100,000 maybe more
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DISCLAIMER
THIS IS NOT FINANCIAL IDEA TO ADVISE YOU TO RISK YOUR INVESTMENT BASEDD ON IT, IS AN IDEA OF INTEREST AND SHARING THOUGHT. ENTER MARKET BASED ON YOUR OWN EXPERIENCE AND REASON
If the market structure decides to break for a bear market, we might see a huge market collapse as as we will nbe breaking the red trend line and a strong support, price will bounce around the 10000-11000 price and retest the breackout point then it will move down again in search of another strong support zone which will act as our demand price around 3500-6000,that won't be so good for many long term investors, short term investors can take advantage if they are in the right direction
If $BTC decides to holdd the support, we will see a steady recovery, the market might range for a while, eventually the price will break break up above 19000-21000 price to bounce around 28000-30000 and retest the break out point andmake a clear and visible W to confirm up trend formation all the way up to new highs, 100,000 maybe more
Like and leave a comment
DISCLAIMER
THIS IS NOT FINANCIAL IDEA TO ADVISE YOU TO RISK YOUR INVESTMENT BASEDD ON IT, IS AN IDEA OF INTEREST AND SHARING THOUGHT. ENTER MARKET BASED ON YOUR OWN EXPERIENCE AND REASON