Looking across multi time intervals we look bearish short medium term, could see a break down to the support line then fast break up, but not as fast as the alts. But for the next several days i believe we will continue short.
I am just giving a prediction here and not going in to any detail of how i got there.
I was playing with this idea but I think a bounce off 42000 much more likely. Reason? the curved top we have currently looks much like a correction during the middle of a runup than something that'll to a bear market. there are lots of support metrics meeting at the 42000 mark, good area to buy in ( with stop losses ofc)
chris-abc
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@abiraj05, Yeah i agree,and actually across all charts above 1day interval its looking very bullish, its actually to relatively short time intervals that look bearish but they look so bearish i can see some extreme downs coming over the next few days. So while i agree it is a bullish market, i would still consider btcmarket bullish if it pushed down to 32,000.
Bullish bearish is very relative to the time interval you are looking at and to push down to 32,000 on a 8 or 13 day chart wont make it look bearish at all
chris-abc
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Did pretty much what I thought. Xrp will be the one to watch out for long now. Btc will most likely have a extended period of consolidation