Price is hanging around 8k range for few days with constant traps :)
However, Bitcoin usually does . Before it happens, it needs to retest MA100 first like what it did in April
if btc goes above 8.3k, then it is a BUY and this post is invalid . For this case, the support scene is that we have at 7.8k
Note: this post is for discussion only and don't forget to LIKE if you like it
In conclusion, today is red, tomorrow might have a recover small green candle, then next day another red. That's typical btc's movement for bear scene.
Nevertheless, we should expect some kind of bounce(small or big) for the area box because of a lot confluences there.
This is just the thought for bear scene :)
In other to catch this falling knife, we must wait for a bullish signal or set at a very low important support zone .
6.8k - 7k is a big resistance zone if 7.5k is broken :). And it looks like 7.5k can't hold . However because of 4hr oversold status, im expecting we might have deep little more then rebounce back a little, stay in range for few hours to cooldown the RSI , then we will keep the dumping journal :)
1hr,2hr,4hr still looks bullish with bull div forming
1Day still looks bearish.
What to do now ? do nothing, next daily candle will have the action :)
we are testing the downtrend again after piercing it. If it can break with current short bullish sentiment, the recover can go max to 7.8k.
Nothing is changed in mid-term view, we will go lower sooner or later
In conclusion, recover during this weekend, then start dumping like shit again on next week :)
In conclusion, short-term bear is in favor because August 10th is approaching
Mid-term (next 2 and a half month ) MEGA MEGA MEGA SUPER SUPER BULLISH :)) . You will know the reason if you follow news :)
Still can't find bullish signal except testing support zone
possible bull div on 4hr chart of total market cap but need today's candle end to confirm it.
I am still waiting sideline until I see bullish signal to join in
In conclusion, bear strength is in doubt now but doesn't mean the dump is over