Here's a chart on drugs, a complex analysis.
Anyways,
The bears have stretched the market to a point that seems to be unsustainable in the mid term.
BTC has seen a solid short term break above $19,000 after reing $18,500, and if we see the bulls holding on to this level over the next couple of days/weeks, we could expect to see higher mid term move towards at least $21,000.
If the bears manage to gain strength and momentum from here though, we're likely heading to new long term lows, as we already mentioned, likely below $17,000 - Bitcoin is forming a big descending triangle pattern and we may see an upward move towards the resistance line. If BTC broke below $18,000 then we see a heavy downfall in the market.
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After having one of the highest selling volume weeks in 2 months, we’ve just seen a net positive close for our last week, which was completely unexpected considering the amount of selling pressure seen over the last couple weeks. This means we’re likely having a higher than expected volume of OTC activity, which could affect the market in the next couple of months.
Stay SAFE and DYOR
Im no professional*
Anyways,
The bears have stretched the market to a point that seems to be unsustainable in the mid term.
BTC has seen a solid short term break above $19,000 after reing $18,500, and if we see the bulls holding on to this level over the next couple of days/weeks, we could expect to see higher mid term move towards at least $21,000.
If the bears manage to gain strength and momentum from here though, we're likely heading to new long term lows, as we already mentioned, likely below $17,000 - Bitcoin is forming a big descending triangle pattern and we may see an upward move towards the resistance line. If BTC broke below $18,000 then we see a heavy downfall in the market.
-
After having one of the highest selling volume weeks in 2 months, we’ve just seen a net positive close for our last week, which was completely unexpected considering the amount of selling pressure seen over the last couple weeks. This means we’re likely having a higher than expected volume of OTC activity, which could affect the market in the next couple of months.
Stay SAFE and DYOR
Im no professional*