BitcoinLong
Can we reach 4800 before going to sub 2k, The FINAL BOTTOM?
Updated
So coming directly to the point here, we're having a normalised BULLISH channel after that violent dumping from 6k levels. 6 monthly candles closing in RED, have you ever seen your Corn in such a bad phase? But if you've survived until now, trust me you're really very close to have something which you'll be proud of a year later.
Okay, enough talking now lets come back to the graph and TA. This bullish channel can easily lead us to 4.8-5k regions. WHY? I see 2 reasons for that.
1 - If bears start dumping from this level i.e. 3.4k, they'll paying from their own pockets and once the whole market will be in blood bath & we've already reached the sub 2k levels then there'll not be enough buyers and literally zero retail traders who'll be willing to open any long positions at that level. Bears won't take that risk on their pockets.
2 - BULL TRAP & RELOAD by BEARS. This is quite a simple strategy followed by any big traders or market makers. They need to take profits on their non-leveraged trades and reload on there over all short positions at higher levels. It'll be sweeter for them when everyone thinks that thank god, now we're above 4.5k and I can sit on my long for days & similar moon talks. And that's when they will get hit by REALITY.
So yeah, stick to fundamentals watch it closely and learn.
If you find this helpful enough, do visit us at tychelab.com .
*This analysis should not be considered as a financial advice but yeah you can use it to educate yourself & help your own trading ideas.
Regards.
Okay, enough talking now lets come back to the graph and TA. This bullish channel can easily lead us to 4.8-5k regions. WHY? I see 2 reasons for that.
1 - If bears start dumping from this level i.e. 3.4k, they'll paying from their own pockets and once the whole market will be in blood bath & we've already reached the sub 2k levels then there'll not be enough buyers and literally zero retail traders who'll be willing to open any long positions at that level. Bears won't take that risk on their pockets.
2 - BULL TRAP & RELOAD by BEARS. This is quite a simple strategy followed by any big traders or market makers. They need to take profits on their non-leveraged trades and reload on there over all short positions at higher levels. It'll be sweeter for them when everyone thinks that thank god, now we're above 4.5k and I can sit on my long for days & similar moon talks. And that's when they will get hit by REALITY.
So yeah, stick to fundamentals watch it closely and learn.
If you find this helpful enough, do visit us at tychelab.com .
*This analysis should not be considered as a financial advice but yeah you can use it to educate yourself & help your own trading ideas.
Regards.
Trade closed: target reached
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.