After breaking the upper channel of the wedge it has been trading in, Bitcoin has started the retest process, which may be bloody, but is not worth not being in for the second that things turn back around. My chart shows 2 probable scenarios for Bitcoin in the next several months. One scenario has the retest being quite quick and positive as you can see with the bottom being 5-7k and arrows signaling to the upside. The other scenario is of a complete stop loss gobbling situation where Bitcoin free falls and knocks out massive amounts of stop losses along with the broader market so whales can buy huge amounts cheap. Either scenario is going to result in a bullish outcome in my opinion. I'm not a financial advisor, nor is this financial advice. Invest only what you are willing to lose, and I am willing to go to the deepest depths with my Bitcoin=]
Comment:
SORRY , the bottom would be 5-7k in the first scenario
Trade active:
Following very nicely. Im awaiting a huge squeeze to the upside, but it may retrace to 6200-6300(dont see that happening as DOGE is up 40% just today). Alts are ready it seems.