In my opinion bitcoin is in an overall BULLMODE. But we need to get a healthy correction back into the buyzone. At the moment we create a classic bear pattern with a bear flag. A bear flag is a correction in a downtrend.
For me there a no bullish signs at the moment. But in cryptospace everything is possible.
I will wait for lower prices and buy with cost average.
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This is not an investment advice, i just want to share my thoughts and strategy with you.
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The bear flag pattern is now invalid. We created a new high and it seems that nothing can stop bitcoin. With a high probability we see the area of 10k +/-. There is a old resistance and maybe we will stop there for a correction. Over this resistanceline we have a lot of space for a further bull run to 12k.
I remain skeptical. Do not get me wrong, i am longterm bullish on bitcoin but this parabolic bull runs are not healthy and will potentially dump hard. Additionally there is this CME Future gap in the 4h chart. Gap have been closed in the past.
But i think we still not have tasted the 10K so i think we will go back to 7400 support and start chasing a new high. take a look at my charts and comment on it.
I appreciate your ideas.