Bitcoin Possible Bullish Scenario 27-28K Target
Updated
Dare we dream? On Bitcoin . I'm a recovering pessimist, but old habits die hard, so I don't favour this right now. I am more partial to a move down (not too far), but this would be the bullish scenario if the bulls just steamroll the bears after that bounce off the 200 weekly MA. From 22870-27000 (range high includes a 27-28K profit target). This also closes the CME gap, so there's that.
I would actually be in favour of a slightly more bearish scenario, but just posting this because it is possible. I lean more towards a move slightly lower down from here into the mid to low 22Ks (say 22100-500) prior to a move higher, but I am posting this because it is a possibility from here. Also fair warning, I don't really us a lot of Elliot Wave. Also supporting the "slightly more bearish scenario" would involve a trip down into the mid-to-low 22Ks which would likely lure in more bears (late bears) to short, and set up a possible bear trap, and use their money to catapult us higher. I might draw this out, but I don't think I need to atm.
I would actually be in favour of a slightly more bearish scenario, but just posting this because it is possible. I lean more towards a move slightly lower down from here into the mid to low 22Ks (say 22100-500) prior to a move higher, but I am posting this because it is a possibility from here. Also fair warning, I don't really us a lot of Elliot Wave. Also supporting the "slightly more bearish scenario" would involve a trip down into the mid-to-low 22Ks which would likely lure in more bears (late bears) to short, and set up a possible bear trap, and use their money to catapult us higher. I might draw this out, but I don't think I need to atm.
Trade active
I think we got ahead of ourselves...Move up to 23400-ish soundly rejected so farTrade active
A slightly more bearish (correction) mod on this original idea, I do feel I need to draw it now as we are entering the 22K's proper it seems. Down to about 22K-22500-ish cause markets be fluid like that. Same possible scenario, but we are going down first. Up is not guaranteed, so I'd go easy on leverage and position sizing...
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