Bitcoin last drop is very likely in and we are about to move up... Let's go into details.
Bitcoin has been dropping since the 10 of November with no relief rally/bounce, nothing at all, basically we have been going straight down. That's 60 days in the red.
The RSI has been ranging near the oversold/weak line for a while now. Normally, Bitcoin tends to recover strong once the daily RSI goes oversold.
We had a recent attempt by the bears to push prices lower which ended up in a rejection, this can be appreciated in the lower timeframes.
Bitcoin's last drop!
Here are the two main bullish scenarios that we look forward to this month.
1) The drop is already over. We will see the green arrow materialize next.
2) One final drop/wick. There is a the possibility of one final wick, a long wick, before a relief rally can take place. This scenario also has good potential and will only extend the correction for a few more days, maximum a week or two...
Conclusion
Bitcoin will go green by the 15th of this month.
What's your take? Do you agree with this analysis?
Feel free to hit LIKE and leave a comment with your targets.
looking so bearish, but thank for sharing us your idea.
AlanSantana
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@CryptographYertunts, Thank you for sharing, it is a nice chart.
SimpleTradezz
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@CryptographYertunts, nice trash TA
YertuntsTrader
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@MCryptoA, goodluck,
Afterbite
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think people first gonna believe repeat of summer pattern. pump up, shorters collection, than squeeze them so instead of down wick we go slightly down from the green to bit red, and rekt. move up
lcharles1001
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@Afterbite, yes, maybe it will have some wicks, maybe 45-35k range.
Liangzuhao
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Hope to see a lower BTC price, let the field capital funds back to BTC