BTC BULL CYCLE STARTED? , BEAR or BULL .
BTC
$BTC is still acting inside Resistance in the bigger picture, Hence the Question about if we are still in the Bear or going to Bull run makes you wanna think, yes we are still in the Bear Cycle. A break out of the cycle in a go doesn't look visible as the Resistance at $41k is still holding, it's more likely we will see series of consolidations before any continuation towards our steps outta the Bear cycle. Consolidation between $34500-$36000 region looks more likely before the Rally up.
We also can't rule out the probability of bottoming out yet with a chance of Golden cross sooner becoming more likely, how soon will depends on establishing HL around $34.5 and $36k making one of these as our newly Established support.
There has been talk of $BTC going down to $20k, mostly due to the facts that we are so close to our crucial support which held during the Last Bull run to the $63k, in view of this we have better chance of establishing our HL between $34.5k to $36k, with this established then we can expect a new HH HL towards $48k and $52k.
The Upper Resistance being broken will be a tough one but we have to hope $34.5k and $36k holds strongly to prevent a fall down to the $27k or $26k region.... So don't expect the $41k or $42,5k region to be broken at a go, main focus should be consolidation at those critical levels mentioned above......
We will likely see $60k before a chance to see $20k, currently the FOMO is gradually returning to the market and we will keep monitoring how this will affect the market or how far it will go.......
Remember never invest what you can't afford to loose, Stay safe and be smart, never work against trend... we are all still early ...
Love from @coincheff
$BTC is still acting inside Resistance in the bigger picture, Hence the Question about if we are still in the Bear or going to Bull run makes you wanna think, yes we are still in the Bear Cycle. A break out of the cycle in a go doesn't look visible as the Resistance at $41k is still holding, it's more likely we will see series of consolidations before any continuation towards our steps outta the Bear cycle. Consolidation between $34500-$36000 region looks more likely before the Rally up.
We also can't rule out the probability of bottoming out yet with a chance of Golden cross sooner becoming more likely, how soon will depends on establishing HL around $34.5 and $36k making one of these as our newly Established support.
There has been talk of $BTC going down to $20k, mostly due to the facts that we are so close to our crucial support which held during the Last Bull run to the $63k, in view of this we have better chance of establishing our HL between $34.5k to $36k, with this established then we can expect a new HH HL towards $48k and $52k.
The Upper Resistance being broken will be a tough one but we have to hope $34.5k and $36k holds strongly to prevent a fall down to the $27k or $26k region.... So don't expect the $41k or $42,5k region to be broken at a go, main focus should be consolidation at those critical levels mentioned above......
We will likely see $60k before a chance to see $20k, currently the FOMO is gradually returning to the market and we will keep monitoring how this will affect the market or how far it will go.......
Remember never invest what you can't afford to loose, Stay safe and be smart, never work against trend... we are all still early ...
Love from @coincheff