Simple Projection of Second Top (Hidden Bearish Trend)
Simple Long-Term Prediction:
Since its highest price, BTC has been in a downtrend but It is hard to label it as a bear market. I am seeing it as a reaction that brought us to the significant support level which has been seen as the last pillar of hope with an enormous amount of fear.
If BTC can defeat the emotional level of 21.5k, It will give more buying opportunities to the bull runners. I believe that the real bearish market would be from the second top after the price reaches between the 30k-40k. I believe sellers lost a little bit of momentum. In addition to that, the U.S dollar index (20-year high of 114.78) is the major factor in driving the BTC price over the last few weeks which dropped below 111 points. As a result, It can boost market recovery for crypto and stock.
My previous BTC analysis was for the long-term strategy which pointed out the long duration of consolidation that means highly choppy trades.
To sum up;
I am still on the side of my second top scenario and not Fomo bungee jumping for 100k-300k price levels.
Thank you, guys!
Since its highest price, BTC has been in a downtrend but It is hard to label it as a bear market. I am seeing it as a reaction that brought us to the significant support level which has been seen as the last pillar of hope with an enormous amount of fear.
If BTC can defeat the emotional level of 21.5k, It will give more buying opportunities to the bull runners. I believe that the real bearish market would be from the second top after the price reaches between the 30k-40k. I believe sellers lost a little bit of momentum. In addition to that, the U.S dollar index (20-year high of 114.78) is the major factor in driving the BTC price over the last few weeks which dropped below 111 points. As a result, It can boost market recovery for crypto and stock.
My previous BTC analysis was for the long-term strategy which pointed out the long duration of consolidation that means highly choppy trades.
To sum up;
I am still on the side of my second top scenario and not Fomo bungee jumping for 100k-300k price levels.
Thank you, guys!