BTC is about to take a decision
Updated
what kind of decision?
1) capitulation? yeah possible only if it goes to 5.7-6k again.
2) new ATH ? possible but very unlikely to me.
3) a nice uptrend before printing a new low? still expecting this one!
my $12.7-14k target hasn't changed at all but here BTC needs to stay above the support ( blue trend line) since it's not good another $5.7-6k retest and too obvious. In April so many ppl expected the crash and who waited for 6k retest and 6.4k was the local bottom actually. same situation here where there are lots of people waiting 33/4K who waiting for $5.7-6k retest or who even think we'll see a new ATH but I actually expect we get this uptrend and after that we'll get a new low which is something few people expect and it may not necessary happen of course.
anyway also possible that $5.7-6k is a strong support again but three times has been tested .. enough times.. then I highly doubt it will act as such a fourth time.
1) capitulation? yeah possible only if it goes to 5.7-6k again.
2) new ATH ? possible but very unlikely to me.
3) a nice uptrend before printing a new low? still expecting this one!
my $12.7-14k target hasn't changed at all but here BTC needs to stay above the support ( blue trend line) since it's not good another $5.7-6k retest and too obvious. In April so many ppl expected the crash and who waited for 6k retest and 6.4k was the local bottom actually. same situation here where there are lots of people waiting 33/4K who waiting for $5.7-6k retest or who even think we'll see a new ATH but I actually expect we get this uptrend and after that we'll get a new low which is something few people expect and it may not necessary happen of course.
anyway also possible that $5.7-6k is a strong support again but three times has been tested .. enough times.. then I highly doubt it will act as such a fourth time.
Comment
i have been looking at this since weeks and pretty interesting..
same patterns more or less ( a sort of H&S continuation and a cup&handle)
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