The dynamics of the growth of the BTC price is coming to its logical conclusion. At the locally the triangle correction model has formed, which has been successfully implemented by price. The price can reach the level of 12500, after which we expect a fast price decline in the impulse wave of the oldest correction model.
We recommend looking levels for a short sale and forgetting about continued growth in the medium term.
Good luck to all!
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1) When modeling price movement plans, we constantly have at our disposal more than 3 variations with key levels, as well as models of price behavior on a local scale (multiple confirmations of the medium-term scenarios). 3) Our plans are based only on our experience and for our work in the markets.
Briefly about our considerations.
Growth of BTC, contrary to our expectations, is possible, however, it will be limited by the boundaries of the model (price chart on the right). We believe that the mid-term dynamics of ETH and BTC prices will be a big disappointment for many people in the next 2-4 months. We have already started realizing liquidity and entering USDT. Currently, more than 60% of the volume has been sold at current prices. The remaining volume will be realized after confirmation of the medium-term bearish pattern, or at logarithmic levels: for ETHUSD 470-730; for BTC 12500-17300.
@VishalGupta35, I agree with Vishal. In fact this underlying channel shows that $17000 is next and not a crash:
VishalGupta35
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Such post just trying to push people to short bitcoin, so that bitcoin pump heavily.. Guys never ever sell your bitcoin.. Bitcoin going to 20k within 2 months
rigocrypto
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@VishalGupta35 I'm new to crypto and the whole trading scene. I'd like to know what makes you say bitcoin is going to 20k within 2 months?