The 'Wildcard scenario'- BTC log scale revealing incoming dump?
Remember that big rising broadening wedge that BTC broke down from but not really that hard and then came right back into it?
Well it turns out that it still hasn't been violated in the logarithmic price scale, and its support (now resistance) is really really close to where we are holding right now..
What does this mean?
Well at the very least it means that btc will probably have a descent amount of sellers at that line, but it also means the a downwards rejection from that line is a very likely scenario.
What do you think about this pattern?
Could BTC get rejected so hard that it could break 10k to the downside again?
Is this just the beginning of a big bear period that takes BTC all the way down to the 2k-6k levels?
Is none of these things going to happen and BTC will just ignore that line and pump to 19k?
I honestly have no clue, but you go ahead and write your opinions in the comments!
Well it turns out that it still hasn't been violated in the logarithmic price scale, and its support (now resistance) is really really close to where we are holding right now..
What does this mean?
Well at the very least it means that btc will probably have a descent amount of sellers at that line, but it also means the a downwards rejection from that line is a very likely scenario.
What do you think about this pattern?
Could BTC get rejected so hard that it could break 10k to the downside again?
Is this just the beginning of a big bear period that takes BTC all the way down to the 2k-6k levels?
Is none of these things going to happen and BTC will just ignore that line and pump to 19k?
I honestly have no clue, but you go ahead and write your opinions in the comments!