Everyone is wondering whether it is now or not. But what? Crypto and bitcoin rally! :)
So we think the market, although is very low, is stable right now and we shouldn’t go any lower than $5800 - $6000 as marked on the chart as a “Massive support”. This will be the lowest so don’t worry.
We can see 3 possible scenarios.
1. We will fall as low as TenkanSen and MA21 level which is at around $6460. We bounce off and reverse towards the north. This is the best what can happen right now. We may expect some positive news from the market (SEC and so on). But this is unpredictable. Time will tell. Soon. Very soon.
2. We break TenkanSen and go towards micro support (green line) to stop there and bounce off. This is pretty likely as this support was created two weeks ago and seems to be still in force.
3. The worst scenario is that we break both TenkanSen and our micro support and we land again on so-called Massive Support which is at level $5800 - $6000.
Why we won’t go below $5800 - $6000? Check out our previous “We will tell you why BTC won’t go lower than $5800”. It is down below.
Moreover, when looking on the Weis indicator we can clearly see there is no interest on trading Btc . There is no supply nor demand. We think everyone is waiting for what is going to happen. They need incentive – good trade from whales or positive info from the market which will ignite the rally.
Look on the Sentiment Zone Oscillators. They look similar but they are not the same. First calculates Weighted from the input. The second calculates and the third one calculates just Moving Average. We can expect to have even lower values. We haven’t achieved buying level yet and we already passed selling point which is the top of the indicator chart. One is sure we have a micro downtrend right now.
Still, 3 before mentioned scenarios are in force.
Which one will actually happen? What are your calculations and opinions?
Please do share with us in the comment section.
Thank you for contributing and being here. You are great!