Bitcoin - Final Accumulation Zone Before BULL MARKET STARTS?!
Good evening everyone! :)
There are a lot of analysis that takes my attention and I would like to give a shoutout to: @TradingShot. These guys are killing it with their analysis and I really get my inspiration from them. But I would like to share my analysis about Bitcoin as well for the upcoming 7 weeks, let's begin!
Bitcoin has showed some downtrend that confirmed that the bears are still there and that the rally purely was a FOMO reaction. History shows that the weekends has a bullish increase for the market, besides that the weekdays will most likely show some bearish momentum. Around the end of April we will see a drop what can bring us in between to $4425 and $3600. In this price range we will most likely find our support what will bring us to the final accumulation time before the bull market starts and the accumulation zone ends.
Scenario 1 (Pink Line): We will find our support between the $4425 and $4115 zone. This range will give us a trading range of 7,5% what would likely break on the third try on the 1st of June.
Scenario 2 (Green Line): Here we will find our support between the $4115 and $3600 zone, most likely 3800/3700 when we hit the red box range. This will give us roughly a range of 13,5% for trading.
Scenario 3/4: We will break to the upside or we will break down even more. This idea will be invalid by then.
Thanks for taking your time to read my idea. I'm really curious what you think is going to happen, let me know in the comments below!
- Hans / Plaxidoeda
There are a lot of analysis that takes my attention and I would like to give a shoutout to: @TradingShot. These guys are killing it with their analysis and I really get my inspiration from them. But I would like to share my analysis about Bitcoin as well for the upcoming 7 weeks, let's begin!
Bitcoin has showed some downtrend that confirmed that the bears are still there and that the rally purely was a FOMO reaction. History shows that the weekends has a bullish increase for the market, besides that the weekdays will most likely show some bearish momentum. Around the end of April we will see a drop what can bring us in between to $4425 and $3600. In this price range we will most likely find our support what will bring us to the final accumulation time before the bull market starts and the accumulation zone ends.
Scenario 1 (Pink Line): We will find our support between the $4425 and $4115 zone. This range will give us a trading range of 7,5% what would likely break on the third try on the 1st of June.
Scenario 2 (Green Line): Here we will find our support between the $4115 and $3600 zone, most likely 3800/3700 when we hit the red box range. This will give us roughly a range of 13,5% for trading.
Scenario 3/4: We will break to the upside or we will break down even more. This idea will be invalid by then.
Thanks for taking your time to read my idea. I'm really curious what you think is going to happen, let me know in the comments below!
- Hans / Plaxidoeda
Comment:
https://www.tradingview.com/u/TradingShot/
Comment:
Link to TradingShot posted above