BTCUSDT ST BULLISH & LT BEARISH
Bitcoin is short term bullish and long term bearish. Since the mid of july, Bitcoin has been up with surprising moves but few are those who understand the cause of actions on coins especially on btc. For every crypto trader that has been joyful and hoping for a new ATH since the rise from the last dip @29k is a different case because its impossible for btc to make new highs consistently in a year with just a profound dip but i wonder what could be an alternative to this idea. Considering bitcoin's pattern and the gap btw 2018 - 2021 and the previous years is a clear picture of how btc evolves. The current move on btc is an approach for confirmation on the pending retest as its illustrated on chart. A successful retest will validate the return of the next bear season just as it happened in 2018 and this action will foster an intense dip that'd take almost forever to survive as the time frame would be too much to bear. It's inevitable for btc to miss the retest of the previous resistance level, the retest will validate the preparation of the next bull run,. This is a personal idea on btc cycle and its more probable to happen beacuse my reasons are clear and close to reality but i'm certain it would be far-fetched to most traders. Take your time to delve well and make research on what you conceive about my critique.
Your likes and opinions would be much appreciated, follow me more helpful ideas.
Your likes and opinions would be much appreciated, follow me more helpful ideas.
Related publications
Disclaimer
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.