BitcoinUpdated Two bullish scenarios for BTC at these levels
1 - $7800 holds like it's been doing, similar to the retrace seen in the move off the $5900 low. Onward to retest $11700
2 - Double bottom at $7200 local low
If the $7200 level breaks down, see everyone at the double bottom test at $5800.
Wouldn't cut losses here, we've got support — let's see if it holds.
2 - Double bottom at $7200 local low
If the $7200 level breaks down, see everyone at the double bottom test at $5800.
Wouldn't cut losses here, we've got support — let's see if it holds.
Note
Still hanging above $7800 support.Sentiment across TradingView is WAY down... tons of calls for sub-6k when there's no evidence supporting that strong of a downward move besides a looming death cross. This reminds me of the looming inverse H&S that everyone projected would take us to 16k — and what happened then? The whales ate us like a bunch of fish fries. More and more positive news coming out every day (ex. Goldman Sachs is leading the institutional move into this market) BUT IT'S ALL BEING IGNORED!!! This is an emotionally charged market, and I think a lot of the herd is going to get left behind on the next move up. Don't be caught on the wrong side of this coin!
Don't be penny wise and dollar foolish, build a position and let's make some $$
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