Crypto-RyGuy

Crypto-RyGuy

possible bullish scenario for a leg up. bearish case we test 21k and fall to a new support.

Crypto-RyGuy

BTC is notorious for following cycles just as the stock market and right now we are just finishing a very steep halving cycle. So we can assume price will start to recover after we continue to test this 20k support, a further drop is possible but i feel as 18k being our rock bottom. by summers end we will start to see some solid price bounces once things cool down a bit.

Crypto-RyGuy

either bottom or we find a new support, your guess is as good as mine!

Crypto-RyGuy

best case scenarios. comment down below how you feel btc will behave in the coming months. (i hope this is wrong!)

Crypto-RyGuy

so halving cycles are something that investors use to take profits to avoid there portfolio crashing when a bear market sets in. the good thing about btc is we have many whales and institutional investors that bought at 28-30k and have since moved there btc into cold storage or at least off a trading platform showing us that they intend to hodl for the long run....

Crypto-RyGuy

so i know the market is bleeding at the moment but we will see a support bottom form, possibly even a new support we have not seen since our 2020 bull run. most likely 18-20k will be a healthy support to rest on. sp500 and nas both saw a big pullback over the weekend, so btc is not alone. with this said the summer months will be our most likely best shot for a big...

Crypto-RyGuy

take off!!!!! i called our bottom a while back and now this pump wait and see!!

Crypto-RyGuy

short!! drop and pump or drop and fall! markets still very fearful.

Crypto-RyGuy

So everyone is comparing this trend to our last significant drop where we consolidated in the low 30k zone but had a support bottom of 28.3, though we are just slightly above this support, this down trend is nothing like the last. last time we saw a consolidation of price around 33-35k, whereas now we are seeing a consolidation lower than this. we know this...

Crypto-RyGuy

so yes, btc is struggling right now but it is holding up fairly well considered we are in a halving cycle, combined with the the current price action, ti's, and support indicators. im not worried about btc falling below 25k. basically, sccop your alts up while you can. good luck traders!

Crypto-RyGuy

I think sellers are getting exhausted. have a good feeling for the upcoming summer!

Crypto-RyGuy

Algo possible channel support bounce from trend line

Crypto-RyGuy

Algo bullish H&S pattern making move higher up into our parallel channel! -sorry chart was done on my phone if sizing is outa wack - btc is about to make another leg up as well, be ready traders!

Crypto-RyGuy

buy on the pullback? btc could ruin this but also a good chance of algo moving to the upside of the channel!

Crypto-RyGuy

massive triangle, is this grt's bottom? guess will wait and see

Crypto-RyGuy

Little bit of good news with some possibly overwhelming bad news, btc is currently in a halving cycle still so these large pullbacks over the past few months are nothing out of the ordinary for btc, but that doesn't mean btc can't start a bull trend. some large investors bought at 30,700k and 40k so that's why I'm optimistic about btc holding that 36k support.

Crypto-RyGuy

Algorand divergence creating a possible bullish step-up back into parallel channel, this will most likely happen when our daily stoch rsi is back on the up and up in the next few days. Referenced below is algorands divergences that have played out in the past. Still bullish on algo, just a long winter!

Crypto-RyGuy

Long story short, Algo has shown previous runs on the daily in which we have seen massive divergence followed by a convergence before our next bullish run. Could this be the beginning on the next leg up?