This week is going to be huge! We have this head and shoulders pattern that is ready for a massive breakout. I give it a 70% chance of breaking down and a 30% chance of breaking out of this pattern.
The most important thing is to let me know in the comment section what you think about this upcoming crash or pump! Up or down?
Bitcoin is on the road to 20k and potentially 15k later this year if this pattern breaks down, so for the bulls, it's important to defend this support and start a new uptrend from here.
As you probably already know from my previous ideas, September is the worst month for Bitcoin, with an average negative return. That means the price of Bitcoin usually goes down in September. This is a statistical fact, but of course it's not a guarantee. It's likely for Bitcoin to go down based on historical data.
The halving event in April next year is still too far away, so you cannot rely on it. Most likely, we are going to find the bottom on Bitcoin in March 2024.
This is a quick update on the price of Bitcoin. I always give you a complete outlook for Bitcoin to stay updated on all time frames. From monthly to hourly. Make sure you follow me so you do not miss out on my next update!
We all know that the price of Bitcoin can sometimes become very boring when it's stuck in a range and volatility is at its historical minimum. But it is how it is, and that's why if you are a crypto trader, you can trade altcoins as well for diversification purposes. This analysis is not a trade setup; there is no stop-loss, entry point, profit target, expected duration of the trade, risk-to-reward ratio, or timing. I share my trades transparently and post trade setups privately.
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It's happening; the huge crash is prepared. Now the chance is 90% because if you take a look at ETH and other coins, it's quite obvious.
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24170 is the next support; if it doesn't hold, 20k is definitely on the table!
I agree. If it doesn't go down, it will go up, but if it goes down its definately not up. on the other hand, if it goes up, it will keep going up until it goes down, in which case it goes down. This will definitely happen tomorrow.
@Tolberti, I think that if there will be a momentum on bitcoin, it will be not earlier than September 12. It is unlikely that there will be the realization of a downward flag without a preliminary impulse to the stop loss zone of short positions 27-28 thousand dollars.