i think there are a lot of big players in the market with huge balances and even more in their bank accounts that can move the market on their will and they're trying to make money.there are a lot of retail traders like you and me looking for possibilities to make profitable trade.every market has its own conditions and players and its not just about bitcoin.i have been looking at 2014 bitcoin crash for several months and try to predict what market will do.this is my idea without any indicator or anything magical.i believe in price action.
there are 2 possible scenario:
1.as you can see 7800 is very critical support , if price react to this support it can go up and reach higher prices.im optimistic about this scenario.
2.if 7800 zone break , we will look for lower supports.according to 2014 crash , there is a zone we can consider it as the last support area for bull market . ofcourse there are a lot of buyer in that area , but can this support change the game ? lets see.
there are 2 possible scenario:
1.as you can see 7800 is very critical support , if price react to this support it can go up and reach higher prices.im optimistic about this scenario.
2.if 7800 zone break , we will look for lower supports.according to 2014 crash , there is a zone we can consider it as the last support area for bull market . ofcourse there are a lot of buyer in that area , but can this support change the game ? lets see.
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this is fibo retracement from 2015 bullish rally
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another view.i hope you enjoy it.
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another scenario
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elliot wave theory(1)
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elliot wave theory(2)
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elliot wave theory(3)