Get started
UnknownUnicorn1121585

BTC Bitcoin.The 1200-1500 level is a lot closer than you think.

Bitcoin (BITFINEX:BTCUSD)  
UnknownUnicorn1121585  
BITFINEX:BTCUSD   Bitcoin
Trend Analysis Chart Patterns Beyond Technical Analysis
11
3
trendanalysis chartpattern beyondta
Looking at a weekly time frame, I am noticing a lot of bear candles. Normally this will indicate a strong downtrend, but I can see a bounce happening soon to the low 4k level (maybe even mid 5k level if this ponzi gets enough strength for a rally, once it hits the 2.8k support. Otherwise, if the trend keeps with a strong downtrend momentum, I can see 1k levels. This could actually signal capitulation if BTC starts selling off strong in this zone. But I am not holding my breath for that. Big guys will definitely be accumulation between the 1-3k levels.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.