Recently I've been seeing a lot of bearish sentiment in the crypto market, especially Bitcoin. I don't usually like to make Bitcoin charts, but I feel like I have to. Bitcoin isn't going to hit $1,000 , $2,000 , or even go as low as $6000.
The lowest Bitcoin will go is wicking the weekly level at 7500, then straight back up breaking the downtrend and continue going up. All this dip to 8000 was is an extended accumulation period. I guarantee you the big boys entered after that aggressive candle down from 9950. I can safely say that I entered after that, and god knows how much other Bitcoin got bought up and stored into Nano Ledgers.
Honestly I expect Bitcoin to continue consolidating around the 7800-8200 zone until November when the new monthly candle forms. I could easily see a close above the highest 4H hold at 8518 going into November and coming out strong by breaking the downtrend from July. Once it breaks that, its bull gang again.. close above 9950 very shortly after just like clockwork.
Until then, don't be suprised if we see a quick touch of 7500. Pro tip for all you amateur traders, just because your commodity drops some small % in a day after 5 straight green days, its not a bear market. It's called retracement and is the natural nature of a market.
As always please do your own research, I am not a financial advisor
The lowest Bitcoin will go is wicking the weekly level at 7500, then straight back up breaking the downtrend and continue going up. All this dip to 8000 was is an extended accumulation period. I guarantee you the big boys entered after that aggressive candle down from 9950. I can safely say that I entered after that, and god knows how much other Bitcoin got bought up and stored into Nano Ledgers.
Honestly I expect Bitcoin to continue consolidating around the 7800-8200 zone until November when the new monthly candle forms. I could easily see a close above the highest 4H hold at 8518 going into November and coming out strong by breaking the downtrend from July. Once it breaks that, its bull gang again.. close above 9950 very shortly after just like clockwork.
Until then, don't be suprised if we see a quick touch of 7500. Pro tip for all you amateur traders, just because your commodity drops some small % in a day after 5 straight green days, its not a bear market. It's called retracement and is the natural nature of a market.
As always please do your own research, I am not a financial advisor
