Bitcoin / US Dollar Perpetual Inverse Swap ContractBitMEX
Description
⋅
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
Trade active
⋅
Trade active
⋅
Comment
⋅
BTC / USD UPDATE
Do we retest 10k or 3k?
Channel resistance moved up to $9,200 due to faster growth than anticipated
bearish, we just had a nice run up and now it would seem we should be running out of gas, but maybe there is some left in the tank.
I'm cautiously pessimistic. (more likely to disappoint and dump then to please us with a continued run.)
I'm cautiously pessimistic. (more likely to disappoint and dump then to please us with a continued run.)