Bitcoin Bull Run to 10k rejected! Bitcoin long term
Sorry guys have been out lately and as unfortunate it was the market didn't go with our prediction since I was out...
So lets take a second look at our graph now, and we can see that we have red boxes where the resistance area is and we have the green boxes which act as a support areas and our next support is around 5000, so as we are going bearish this is a possible scenario and after this bottom we should go for a peak at 7k area however by that time more news on ETF will be out so we will look at it once we get there at 5k...
Other two possible scenarios:
2.However we do have some bullish signals in 1d chart such as being oversold to and seeing some bullish divergence in long term from Elliot wave Oscillator so there can be another scenario of finding a lower high at the price 6145 which has been tested before and is a strong support however the bounce we have is not big enough to be sure that it is a bottom.
3.Another scenario is having a double bottom at 5790b where we should see the big bounce and if double bottom works we should see where this bull run might take us.
From the three scenarios described before I personally believe in the first one that we are going to 5k unless the other two scenarios show confirmation because this bull run sort of got the community back in believing Bitcoin going to moon and as we got rejected the believe will go away and bulls flip bear so 5k is a possible area and the trouble is that if we don't hold to 5k we are good to go to 4.4k
Good Luck, traders! #moon #mooncommunity
So lets take a second look at our graph now, and we can see that we have red boxes where the resistance area is and we have the green boxes which act as a support areas and our next support is around 5000, so as we are going bearish this is a possible scenario and after this bottom we should go for a peak at 7k area however by that time more news on ETF will be out so we will look at it once we get there at 5k...
Other two possible scenarios:
2.However we do have some bullish signals in 1d chart such as being oversold to and seeing some bullish divergence in long term from Elliot wave Oscillator so there can be another scenario of finding a lower high at the price 6145 which has been tested before and is a strong support however the bounce we have is not big enough to be sure that it is a bottom.
3.Another scenario is having a double bottom at 5790b where we should see the big bounce and if double bottom works we should see where this bull run might take us.
From the three scenarios described before I personally believe in the first one that we are going to 5k unless the other two scenarios show confirmation because this bull run sort of got the community back in believing Bitcoin going to moon and as we got rejected the believe will go away and bulls flip bear so 5k is a possible area and the trouble is that if we don't hold to 5k we are good to go to 4.4k
Good Luck, traders! #moon #mooncommunity
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