Should you still Hold, Buy more or sell you Bitcoin at this current price of Bitcoin? you may be asking after bitcoin recent price actions.
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My analysis are always multi-timeframes, so please do expect a full week play out of my predictions.
as a result of my busy hectic schedules, I will be making only weekly analysis every weekends on what to expect from the market through out the new week before a new weekend.
I will do my best to try to constantly update the posts during the week, to keep you updated incase we have any sudden incoming changes in price action that could affect our results.
Thanks for your constant supports and understanding.
Bitcoin bulls did successfully break the sellers and not just that , but they also allowed price to retest the sellers down trending and currently, trying to turn it into a new buyers (resistance broken and automatically turning into support).
Just like I said it , this was going to happen in my last weekend analysis on Bitcoin last week. Bitcoin demand power(bulls or buyers strength) held down the 32k support Like real bulls would💪🏾 .
this war between buyers and sellers on what direction price should move next lasted through out the week and was filled with anxiety and massive stop loss hunt by the buyers as they out numbered sellers like I said..
Now the current situation is that the bulls are tired of being held down and could explode again to the upside, the 32k support down to 28k push was hard crack but bulls survived the sellers back to back attack, the pump will be explosive as the second breakout move clock is already ticking tick! tock!
Because support and resisitance is an area not a line, price was finding buyers as it goes down leading to bounce after each push . we see BTC buy pressure growing by the mints above the 32k support all the way to 33800.this range seems to give buyers strength as they are lined up in number on this zones.
therefore my Target of 54k to 60k range target is a measured move of the previous buyer power before the pause(sideways price move occur)
This is no financial advice on what so ever, it is just my opinion on the market in terms of what the next move possible for bitcoin price direction to make good profit than loss.
we are like about to see big pumps and BTC shooting to the moon for a 60k win win😍 ride.
Good profit for bulls and good short profit range for bears, all the way down to 20k to 16k range💩.
But that will be after a sweet run to 50k min is accomplished.
look at the current weekly chart, the bar about to close in the next 24hrs has successfully created a new high.
from the , it shows that the buyers demand is likely to keep growing, leading to price attempting 38k again before the end of 24hrs.
Sellers are likely to start getting buy reactions as price gets closer to the 32k support. so I won't be of surprise if Bitcoin buyers see a bounce around there.
But then how far will this bounce go?
Its likely to be a war because we are now at the apex.
So here, the range is getting tighter
if i zoom closer, you will see that price is still stuck in the bears area(sellers zone that was broken) yet if you look below, you will see the yellow buyers area.
what this simply means is that sellers are likely to attack again but bulls are also likely ready to defend if the sellers succeed is stopping them from turning the resistance area to support. meaning the sellers won't an easy ride from 32200.
the more a resistance is hit (34700 resistance area down to 34400) the more likely that resistance is weakening and the breakout is very close by