Bitcoin is bearish. Start realising it, as I have been reminding many of you since $8700.
When Bitcoin typically breaks out of a bear market, which it has done, it reaches the .382 level of retracement from the all time high. Now this is subjective depending on how you draw, but it could have easily already been hit. Looking at the long term trend, it is clear its time for a retrace, the parabola has been broken, and we need to go back to retest lower prices. I believe there will be a 25-35% correction (which is a typical retracement after a bear market breakout), meaning that we could be landing anywhere between $6000-$6800 which is the next place to be accumulating more btc. One easy way of doing that is buying into particular alt coins.
In a bull market, which we are now in, alt coins see strength with bitcoin weakness, and actually a bitcoin drop can be very positive for alt coins as the flow of money moves from bitcoin into alt coins. For more alt coin analysis, jump into my premium group! We will see all time high again by halvening in 2021, if you don't know what that is, start googling. But now is the time to be accumulating these prices between $6000-6800, before we eventually see Bitcoins next big cyclical bull run to $70,000.
Long term - Always bullish bitcoin
Mid term - Bearish
DM me on telegram @crypto_Joe10 for more info
When Bitcoin typically breaks out of a bear market, which it has done, it reaches the .382 level of retracement from the all time high. Now this is subjective depending on how you draw, but it could have easily already been hit. Looking at the long term trend, it is clear its time for a retrace, the parabola has been broken, and we need to go back to retest lower prices. I believe there will be a 25-35% correction (which is a typical retracement after a bear market breakout), meaning that we could be landing anywhere between $6000-$6800 which is the next place to be accumulating more btc. One easy way of doing that is buying into particular alt coins.
In a bull market, which we are now in, alt coins see strength with bitcoin weakness, and actually a bitcoin drop can be very positive for alt coins as the flow of money moves from bitcoin into alt coins. For more alt coin analysis, jump into my premium group! We will see all time high again by halvening in 2021, if you don't know what that is, start googling. But now is the time to be accumulating these prices between $6000-6800, before we eventually see Bitcoins next big cyclical bull run to $70,000.
Long term - Always bullish bitcoin
Mid term - Bearish
DM me on telegram @crypto_Joe10 for more info
Comment:
$6400 is my Precision target.