Hey guys this idea is gonna be very short, no much story, Looking closely on the chart show a potential RISING WEDGE in the making but, In all I still believe that the bull will likely drag the price towards 9k before major drop will happen.
The idea is to short from the supply zone and Long the demand zone as shown on the chart.
For now I see price been trapped within this range.
Kindly go through the chart and do leave us your comments to let us know how you feel about our view,
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Trade active
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This is the big picture i always have in mind, it may be halving that will trigger this but i so much believe in 9k test before major drop again.
Trade active
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Immediate support zone to watch are 63xx-64xx, but if price smatch this down then next support will be 5900-6000 zone.
Great analysis...but why would you think that 9k would be major dump? I feel like with the halveninv coming might go up a bit get people excited and right after short lived but hard selloff and maybe a V shape to break to 10k or more in to the summer. Lmk what u think
weslad
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@RageGear, I have that in mind also, it just that my boundary starts from 9k and this ca of course extend towards 10k level.
ArShevelev
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@weslad, Hi bro, funny things happening, usually you are Bullish on Bitcoin and this time you bearish, but i am is bullish on bitcoin this time!!:D
What is happening bro??))))
weslad
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@ArShevelev, ahh ha, it meant to happen althoug my bearish is for just short term
ArShevelev
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@weslad, hope so, check my todays analysis to see mid term picture:)