Bulls need to hold 8000. Ideally we need to see consolidation between 8200-8600 range for next couple of days to cool off indicators and then test 9200 and 10500 in next 2 weeks. Should be easy money if 9200 brakes.
Bulls indicator 21 EMA has been broken. We are down trending (~-40% from previous ATH).
Most likely outcome for October-November :
a) Down trending to 7200. if 7700 compromised ~40% chance. If 7200 brakes - brace for impact ....
b) Consolidation in 7800-8500 range. ~50% chance
c) Exit from downtrend 8800+ (Before November) Breaking 21EMA in November (with...
September will be a drastic month for Bitcoin. But what will happen in the near future ? I'm surprised that news for ETF that we where anticipating for 2Y didn't have any impact on the price. So what does it mean ?
There is couple of scenarios:
a) we are breaking 11k and moving all away to 14k range or
b) we are testing 8200-8500 with a possible brake...
IMHO 55-90$ is a range to buy. I don't think we will see significant drop below that. By april ETH should be the first crypto who will get out of the bear market following by sphere. In the mean time it could easily consolidate for next 2-3 month if nothing major happen by April.