Dear friends,
I continue intraday forecasts.
The previous scenario was worked out but on a much smaller scale. We surprised the way down with a subsequent impulse, but the general one shows that the market maker was not able to convince the crowd to buy Bitcoin and the latter, falls under its own weight.
The level of 9056 USD remains the key, but it was evident that without the will of a significant player and another impulse, this threshold will not stand.
Due to the protracted sidewall, the situation becomes hugely uncertain. Two opposite scenarios emerge.
In the first case, the price should overcome the impulse mark of 9536 USD - this is the maximum of October 29 - only in such conditions we can believe in the continuation of the upward movement.
The second scenario - an impulse occurs from the current shelf below the level of 8847 USD - this is the minimum value of the current side. In such cases, we can assume a bearish market reversal and continued correction of the massive momentum of October 25.
In both cases, strong rebounds are expected due to the high voltage on each side.
The first scenario is marked with a dotted line as less likely due to the general bearish trend down.
If you expand the trend by TF, then at the moment:
Week - Bear
Day Flat
4 hours - Bear
Consequently, the prevailing scenario is bearish.
The potential is bearish.
Good luck to everyone and good trading ideas!
Respectfully,
Michael @Hypov
=================================================== ======
Like and subscribe if you liked the material.
I will be glad to any message.
Thank you very much
Everyone GTI
Friends, I remind you that this is only my personal view of the market, which I share with you. I do not guarantee profits. Only you make the final decision and all the risks associated with it.
I continue intraday forecasts.
The previous scenario was worked out but on a much smaller scale. We surprised the way down with a subsequent impulse, but the general one shows that the market maker was not able to convince the crowd to buy Bitcoin and the latter, falls under its own weight.
The level of 9056 USD remains the key, but it was evident that without the will of a significant player and another impulse, this threshold will not stand.
Due to the protracted sidewall, the situation becomes hugely uncertain. Two opposite scenarios emerge.
In the first case, the price should overcome the impulse mark of 9536 USD - this is the maximum of October 29 - only in such conditions we can believe in the continuation of the upward movement.
The second scenario - an impulse occurs from the current shelf below the level of 8847 USD - this is the minimum value of the current side. In such cases, we can assume a bearish market reversal and continued correction of the massive momentum of October 25.
In both cases, strong rebounds are expected due to the high voltage on each side.
The first scenario is marked with a dotted line as less likely due to the general bearish trend down.
If you expand the trend by TF, then at the moment:
Week - Bear
Day Flat
4 hours - Bear
Consequently, the prevailing scenario is bearish.
The potential is bearish.
Good luck to everyone and good trading ideas!
Respectfully,
Michael @Hypov
=================================================== ======
Like and subscribe if you liked the material.
I will be glad to any message.
Thank you very much
Everyone GTI
Friends, I remind you that this is only my personal view of the market, which I share with you. I do not guarantee profits. Only you make the final decision and all the risks associated with it.
About Me and My life
ovalapp.bio/michael
ovalapp.bio/michael
