Since the initial drop from ATH in late November 2021 to the 42k zone, bulls always searched for support and a reversal for a new ATH, and always Btc has dropped even more. At this moment, again, we have the same pattern, but even though there is a possibility of reversal, at least technically, this is very unlikely. Looking at the past 2 trading weeks we can see that bulls don't have any power and there is no buying interest and the bounce from 2017 ATH was just a technical one and it didn't even have the power to touch the last 25k support, now resistance. The overall structure is strongly bearish and, in my opinion, instead of trying to buy a low, is safer to sell rallies. That being said, this is my strategy for BtcUsd and I will remain bearish as long as the price is under 25k. As for the target, although it will not happen in the next few days, 12500 is a reasonable target
I can feel many technical will fail. I have been observing many experienced TA on their Eliot wave analysis failed all the time. many TA guys are also no confident and only speculation.
Mihai_Iacob
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@Skyito, in any case and any count, btc is bearish like hell
Skyito
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@Mihai_Iacob, that's when I bullish the most when the most tradingview community is bearish, bought ADA, BTC, GRT and Matic this morning.. Boom >>
@Mihai_Iacob till its not, its was bullish like hell in november till it was not
Mihai_Iacob
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@jdo85, in november there were signes of reversal and if you look back you can see that i draw attention. Now is bearish and all I said is that is safer to sell rallies than buy dips. But, everyone do what wants. In my book there is no sign of reversal now, when i will see one i will buy