Although many are worried about Bitcoin's price right now I wouldn't worry because...
- If you look at the chart from the beginning of the bull run to now, you'll see that it hasn't broken the trendline that started the run
- A popular tool called Market Cipher has displayed heavy manipulation that hasn't been seen ever in bitcoins history
- The media is releasing stories that are boosting positive market sentiment ( Probably just the market manipulators , hedge funds , trying to make sure the price
doesn't drop to far after tanking the market so they could good get a good price to buy in )
- We saw a big move upward on the 26th of May ( UTC Time ) with volume at lowest it's been in the past 7 days. My research as shown that this is a bullish sign.
However there is a problem coming, and that's the 2nd quartile derivatives close coming in June. If bitcoin doesn't reach at least mid 50k before that dump comes I don't
think it will be able to recover and will go into a bear market via breaking the bull runs beginning trend line.
- If you look at the chart from the beginning of the bull run to now, you'll see that it hasn't broken the trendline that started the run
- A popular tool called Market Cipher has displayed heavy manipulation that hasn't been seen ever in bitcoins history
- The media is releasing stories that are boosting positive market sentiment ( Probably just the market manipulators , hedge funds , trying to make sure the price
doesn't drop to far after tanking the market so they could good get a good price to buy in )
- We saw a big move upward on the 26th of May ( UTC Time ) with volume at lowest it's been in the past 7 days. My research as shown that this is a bullish sign.
However there is a problem coming, and that's the 2nd quartile derivatives close coming in June. If bitcoin doesn't reach at least mid 50k before that dump comes I don't
think it will be able to recover and will go into a bear market via breaking the bull runs beginning trend line.
Comment:
My support/resistance lines are drawn using standard deviations.