BTC – 2 scenarios possible

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Hi Guys!

Yes, we had this price drop off.

Is it a bad thing?

No, it is not.


We already had 35% sale which is really normal in the crypto world.

We have two possible scenarios.

1. We think it is more likely.
The price will remain over $9000 and it will start to go up.

Technical justification:

• The current candle as a hammer with a long shadow which is bullish
• Strong resistance at $9000
• WBM BUY/SELL – the price is much oversold
• Many alts went up. The market sentiment is getting better.


• The bottom line of the Ichimoku Cloud might be taken as an ultimate resistance ($7700)
• To re-buy we should clearly see on the Weis Waves a supply getting smaller and of course the green wave of demand.

2. We fall to $7500/$7700 (the next strong resistance)

The main threat here is emotions.

It works both ways FOMO makes the ridiculous prices even higher and the opposite panic makes the low price even lower.

So remember don’t panic.

Don’t check the price every 5 minutes.

This is normal and this will pass.

The number of the transaction on BTC’s blockchain is a record high.

Many products/ alts are strongly developing and getting new cooperation with tech. giants like Google or Samsung.

Don’t forget about that.

Look at this fundamentally not emotionally.

Are you in a good mood right now? Or are you getting nervous?

Please do tell us in the comment section.

Thank you for reading and your time.

WBM Team.
Comment: Here is the update on the current BTC situation.

Related Ideas

Nice analysis.
WBM_Team Bullandbeartrading
@Bullandbeartrading, thank you.
Neckline was broken after double top - many calling 7xxx
+1 Reply
WBM_Team shimmeringpath
@shimmeringpath, thanks for sharing. This might be the option.
Agree on scenario 1, time to resume uptrend ... this could be last time to see btc below 10k and if 9k broken this bull run is over, we got strong trendline intact, resistance turned to support, abc correction forming large bull flag, 1d,2d bullish hidden divergences
+1 Reply
WBM_Team Jocoin
@Jocoin, agreed. Thanks for sharing.
Correction is done !!!!
10500 next stop

+1 Reply
WBM_Team meveme
@meveme, exactly.
meveme WBM_Team
@WBM_Team, there is a but
10k is a very very strong resistance
If u look at the monthly chart u will see how is the trend line is broken
NVT has turned from red to blue last 2 days
If it continues for another day or two
Then it can be :
Means massive sell out may be on the way

If the monthly chart closes above 10k we are all good to go as do very healthy for the bull run
Which I hope that is the case

If it breaks down then
We shall see
WBM_Team meveme
@meveme, 10K already was broken! :)
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