President Xi obviously holds a lot of crypto, because he made his announcement at the perfect time as BTC shorts were experienced a 43% gain in the past 2 days before. He will probably be selling at the 9k range, where there is a convergence of trend line resistance and daily moving averages. This sell off at 9k -> 6800 will ensure the death cross on the daily...
In case you were wondering where the bullish wicks were on the daily chart. Guys, check out the 2-day chart -- (you can add a custom time frame in TradingView) -- and don't forget your candlestick mathematics. Two big wicks signalling the bottom was hit. Put your seat belts on peeps. See y'all at the 0.382 level.
On the BTC daily chart, is in a short-term downward channel from the beginning of May until the end of June. The break out is imminent. We'll probably rally at the beginning of July. I think a reasonable target is around 7700-8100.
I think the bearish sentiment will continue at least until July. The log(BTC) price isn't a straight line. It kind of curves in sort of a cup or shallow parabola. I'm guessing it will be bearish for another 3-6 months. We should watch this curve for a while until the trend at this scale looks more horizontal. Hopefully, it will level out in July.
During Dec 2 - Jan 12 we were in crazy town... we are currently in the over-sold region. The question is, will the market over compensate and be crazy pessimistic to balance out the over exuberance during Dec - Jan 12.
What do you think?
The upper resistance line of horizontal pressure cooker gets more and more negatively sloped, so that it goes from looking like an alligator head, to a horse head, to a llama head. BNB is gonna shoot up to another level again sooner than before. $BNB will be 34,000 satoshis in 2 weeks or less.