Hello Traders and Investors,
Bitcoin is finally starting to look good after bleeding out for weeks. We can see that is a bullish harmonic pattern and bullish ABCD move. This setup sets for a move to 38,000$ target.
My previous posts are bearish for Bitcoin and they somewhat played out partially. We are still in a very questionable time but this next move up to $38k can regain my confidence in Bitcoin. After breaking the weekly lows of support at $35k, I became very bearish on Bitcoin believing the top is in. HOWEVER, IF THIS MOVES HAPPENS, I will believe that Bitcoin is in an accumulation phase to go higher; it will be the Wyckoff Redistribution phase C. Until that happen though, I will remain 60% bearish and 40% bullish.
Let me know what you think.
Bitcoin is finally starting to look good after bleeding out for weeks. We can see that is a bullish harmonic pattern and bullish ABCD move. This setup sets for a move to 38,000$ target.
My previous posts are bearish for Bitcoin and they somewhat played out partially. We are still in a very questionable time but this next move up to $38k can regain my confidence in Bitcoin. After breaking the weekly lows of support at $35k, I became very bearish on Bitcoin believing the top is in. HOWEVER, IF THIS MOVES HAPPENS, I will believe that Bitcoin is in an accumulation phase to go higher; it will be the Wyckoff Redistribution phase C. Until that happen though, I will remain 60% bearish and 40% bullish.
Let me know what you think.