Many voices, much fear. I my view Bitcoin is testing the logarithmic support level at ~$7.850. If it holds this week I will continue in my scenario 3 and we shall see the upward trend picking up and the bulls keeping their control. If it fails then we will likely see the retest of the $6.000 level for support and stay in the overall current downward trend channel (scenario 4). Bitcoin and the crypto market has now the opportunity to shine and proof to be a possible safe haven. The world economy will tumble and we will see further decline in the financial markets up to the 50% correction. [Please note I am showing the log. chart in this idea]
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.