BTC has formed sHs pattern, measuring necklines gives us targets approx 23k and final 18k and here we have EMA 50/200 crossing, low volume and a lot of FUD news which are not helping #BTC... time will tell the story.
As described, Bitcoin will retest upper trend line at approx 4200 $ and get strong rejection (volume is dropping on weekly timeframe, Stochastic RSI about to roll over), causing it to fall to major support line at 3200 $ in weeks to come. After double bottom i think we will enter in reversal (bulls will take over).
Trade with caution and stay safe, do not fall...
There are several indicators which tells us major drop is comming.
- volume is dropping
- Stochastic RSI is in overbought area
- there are no big buyers
Big support at 2K, big players are waiting just for that. And then the real bull run will start.
Appreciate your comments, likes and folow up :)
Disclaimer: This is my point of view and not trading advice.
Compared with previous dump on a daily time frame. My stance still hollds we will visit 3k2 again. Lack of volume and incertainity will move BTC down again .
This is not financial advice, trade with extreme caution.
What do you fols think about this aspect ?
It looks like Bitcoin is heading toward 3k and its final wave of correction 2k, before bullish mode.
Because there is a lack of volume i firmly believe it is going down. This is just my personal point of view, not a trading advice.
We will touch 200MA after weekly candle close, then slight correction or pullback and next, BTC will continue its path to 5k $.
It is just my personal oppinion, and not trading advice.
Comments are welcome.
