Bitcoin / TetherUSShort
BTC TECHNICAL ANALYSIS
At this point, many people are contemplating wether the bottom is in. My answer to this is that the bottom is not in and BTC still looks bearish.
From what the chart is saying, there's still a possibility of going well below the current 19k support, provided the monthly candles closes well below the 17k zone as identified on the chart.
The Goblin town is where people will start to have a taste of what bear market really feels like. This is when reality will dawn on them and in the event the level doesn't hold, BTC will possibly drop to 11k zone.
This 11k zone is where the real accumulation begins. We might however have a wick down to 6k. This will be rejected but will subsequently, the price Action will drop to that region for liquidity tapping.
Between 6k and 4k is where the reversal to the upside commsenses. This will signal the end of the bear market as it might likely rhyme with BTC halvening.
From what the chart is saying, there's still a possibility of going well below the current 19k support, provided the monthly candles closes well below the 17k zone as identified on the chart.
The Goblin town is where people will start to have a taste of what bear market really feels like. This is when reality will dawn on them and in the event the level doesn't hold, BTC will possibly drop to 11k zone.
This 11k zone is where the real accumulation begins. We might however have a wick down to 6k. This will be rejected but will subsequently, the price Action will drop to that region for liquidity tapping.
Between 6k and 4k is where the reversal to the upside commsenses. This will signal the end of the bear market as it might likely rhyme with BTC halvening.
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