BITCOIN - RETEST $10,000 OR $3,000? - CryptoManiac101
BTC / USD TA + FRACTALS
What do you think? Do we go up from here to resume the 2017 bull market or do we retest our ATL of 2018 of just over $3,000?
Let's break down the different scenarios we're looking at here...
First let's get down to the BULLISH scenario!
Bullish scenario takes us towards $8,200 some time this month or early first few days of May with a firm break and close above key resistance and our descending channel which theoretically would move us into a short term bull market, but to break that channel won't be that easy. After that we may possible see a fake out for the bears with a nice bear trap before bull take this monster towards the nice psychological resistance of $10,000... All that should play out some time in May
Now, my dear bears, let's take a look at the BEARISH scenario!
Bearish scenario, which has an upper hand in the game at this time until it break $8.2k, would set us down first towards our key pattern support of $5,800 where we might see short term bounce followed up by second wave of sellers taking us towards our target zone of $3,200 and possibly lower. With that said bears will have a hard time breaking below $5,800 and if they do break it, it will be a strong defeat for the bulls extending this bear market by at least 4-8 month.
STAY TUNED
What do you think? Do we go up from here to resume the 2017 bull market or do we retest our ATL of 2018 of just over $3,000?
Let's break down the different scenarios we're looking at here...
First let's get down to the BULLISH scenario!
Bullish scenario takes us towards $8,200 some time this month or early first few days of May with a firm break and close above key resistance and our descending channel which theoretically would move us into a short term bull market, but to break that channel won't be that easy. After that we may possible see a fake out for the bears with a nice bear trap before bull take this monster towards the nice psychological resistance of $10,000... All that should play out some time in May
Now, my dear bears, let's take a look at the BEARISH scenario!
Bearish scenario, which has an upper hand in the game at this time until it break $8.2k, would set us down first towards our key pattern support of $5,800 where we might see short term bounce followed up by second wave of sellers taking us towards our target zone of $3,200 and possibly lower. With that said bears will have a hard time breaking below $5,800 and if they do break it, it will be a strong defeat for the bulls extending this bear market by at least 4-8 month.
STAY TUNED
Trade active
Trade active
Do we retest $10k or $3k?
Channel resistance moved up to $9,200 due to faster growth than anticipated
BULLS - broke 8.2k
BEARS - need to maintain ground below 9.2k
Stay tuned!