At the beginning I would like to say that I am still bearish, even if this scenario occurs.
That would only mean that we would probably make a longer correction by 3-4 months before the final crash comes.
So that some are not surprised: The final crash does not mean for me that Bitcoin will drop to zero. It just means that we will see one last impulse down before it goes up again.
My PERSONAL target is around $2000. That means Bitcoin can also rebound at $4000 or $3000. I have my reasons for that and maybe later I will present them to you how I got that value, but that's not the point now.
I do not have to say much about the chart, because everything is already there.
In summary, the idea is that everyone believes in a triangle. These people would be ripped off as soon as we break this trend line. All this could lead to the FOMO SELL and make everyone bearish. Since no one has spoken of this value of $6600 so far, I could well imagine a reversal there for a short term bull run. Why is this value so important? Since the beginning of the bear market, we have not closed below this value in the daily, weekly and monthly chart:
Daily chart:
Weekly chart:
Monthly chart:
As soon as we close below that value, I continue to believe from here on a slow and direct drop in the $2000 area. Here's the idea:
Otherwise it will take longer for the drop. I will show the whole scenario as soon as we reverse there. If not, everything will stay the same.
That was it. If I wrote a novel, nobody would read it. That's why I like to keep it short. In the end, it depends only on the idea above. Hope you liked it.
Always think different than others. Since 99% of people lose money in trading, you should always do the opposite of others.
That would only mean that we would probably make a longer correction by 3-4 months before the final crash comes.
So that some are not surprised: The final crash does not mean for me that Bitcoin will drop to zero. It just means that we will see one last impulse down before it goes up again.
My PERSONAL target is around $2000. That means Bitcoin can also rebound at $4000 or $3000. I have my reasons for that and maybe later I will present them to you how I got that value, but that's not the point now.
I do not have to say much about the chart, because everything is already there.
In summary, the idea is that everyone believes in a triangle. These people would be ripped off as soon as we break this trend line. All this could lead to the FOMO SELL and make everyone bearish. Since no one has spoken of this value of $6600 so far, I could well imagine a reversal there for a short term bull run. Why is this value so important? Since the beginning of the bear market, we have not closed below this value in the daily, weekly and monthly chart:
Daily chart:
Weekly chart:
Monthly chart:
As soon as we close below that value, I continue to believe from here on a slow and direct drop in the $2000 area. Here's the idea:
Otherwise it will take longer for the drop. I will show the whole scenario as soon as we reverse there. If not, everything will stay the same.
That was it. If I wrote a novel, nobody would read it. That's why I like to keep it short. In the end, it depends only on the idea above. Hope you liked it.
Always think different than others. Since 99% of people lose money in trading, you should always do the opposite of others.
Comment:
How about my last short term trade guys:
Should drop now or after one more upmove.
Should drop now or after one more upmove.
Comment:
After one upmove we just dropped like I said. Until the end of the month our eyes are first at $6,600. I will see if I publish a chart later to the current situation.
Comment:
My short term trades so far;
#6:
#7:
#6:
#7:
Comment:
This is #6:
So a bear trap is very likely. That would also mean that we are only about in the middle of the correction. That would explain the low volume.