The pressure of the SEC on Binance and Coinbase was not only badly received in the markets, but also stopped my bull analysis and we had to close the position at a loss.
The first thing I saw when I looked at the chart from afar before opening a new position was that Bitcoin was on the eve of creating a second shark pattern.
Bitcoin, which repeats the pattern it made in August 2021, can move towards the $18400 target if this upward trend is broken.
Even though I see no reason not to make this move when an extraordinary FUD is swirling in the markets and fear prevails, I still keep my positive mindset and will start sharing pessimistic scenarios only if it retests after breaking the resistance.
Even if uptrend continues, this risk seems to continue as long as the $30700 level is not exceeded.
The first thing I saw when I looked at the chart from afar before opening a new position was that Bitcoin was on the eve of creating a second shark pattern.
Bitcoin, which repeats the pattern it made in August 2021, can move towards the $18400 target if this upward trend is broken.
Even though I see no reason not to make this move when an extraordinary FUD is swirling in the markets and fear prevails, I still keep my positive mindset and will start sharing pessimistic scenarios only if it retests after breaking the resistance.
Even if uptrend continues, this risk seems to continue as long as the $30700 level is not exceeded.