Friends, please hit the like button, and write any comment, this will be the best thanks from your side.
Reasons: - Price trades in two Triangles - Price created another one triangle but smaller - Price trades near Resistance level - Resistance Level is the same 6950 $ - I expect the exit from the triangles to be upwards - Lets see how it will be - Always do your own research before opening positions and always put SL
Great analysis! But i highly doubt that will be the future of bitcoin.
There is 0 demand on people to buy in higher levels, actually we can see that people is not interested in buy bitcoin at that prices.
We already saw a big rally of gold but bitcoin didnt follow, just at the start but after lost the fuel.
Every day that bitcoin cant cross this levels make more bearish the tendence as people will need to sell their holings to get usd as there are many people losing their jobs.
@aleex5893, Excellent point, people seem to be acting very irrationally, inconsiderate of the fact that this rally is (potentially) just a dead cat bounce. Regardless, we do have 6k support below us, I'm short term long with a very tight stop
Protixder
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@aleex5893, this can be the start of new bull run 2020
Wojak
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incredibly foolish analysis. can't see the forest through the trees. we're going to dive this weekend
There is 0 demand on people to buy in higher levels, actually we can see that people is not interested in buy bitcoin at that prices.
We already saw a big rally of gold but bitcoin didnt follow, just at the start but after lost the fuel.
Every day that bitcoin cant cross this levels make more bearish the tendence as people will need to sell their holings to get usd as there are many people losing their jobs.
I expect a pullback to 4-5 k levels soon.
Thanks for sharing!