Bitcoin is experiencing a weekly bearish stop hunt and is likely to pull back from here. I still think we're in a bull market, but 4 weekly green candles are likely to cool off a bit.
I would look for reentry around 46k, maybe lower.
Stay safe out there!
Not financial advice, just my 2 cents.
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Bitcoin has given us our expected pullback and now we must look at the support side to study which supports will hold price and for how long?The first option, as of this post, is that the pullback will only last till Tuesday (U.S. stock markets are closed Monday) and then the buyers come back via BTC ETFs. If this is the case, it may also mean that our RED...
Bitcoin Pull backs are be expected folks.
We have had a monumental move from Nov 2022 c.15k to where we are now.
In the last bull cycle 30% pull backs were the standard. With this cycle we have had nothing but 20% pull backs to date. We have to cater for a 30% pullback scenario and also for a 50% (as recession indicators are throbbing at present). This does not...
IF (and that's a BIG if) there is a pullback for Bitcoin, where might it go? Using one form of fib retracements, where the 0 is the recent peak, and a range is achieved by putting one 0.618 on the lowest wick and one on the lowest close of the following dip, then the two areas of interest would be somewhere near 20%, the recent pullback levels (since the liquidity...
Black Friday will be the real day to get cheap bitcoin. If we don't close above the 0.236 Fib level we will test the 0.382 level. I am looking for a long at 0.382 or a bounce off the blue trend line. Keep in mind, that's only a 20% retracement. There will be more blood to come the following days. 0.5 Fib level has the 50 day moving average as support too. This...
We are still on course for 20K very soon. That $1000 pullback seems like os over and we will continue the road up. Stay cautious the real sell off is coming at some piont!
