Hello all,
We are very close to the top at 4988$ and 2 main scenarios are possible :
(Green Lines)
We will break easily with volume the previous top (orange line) and we will do a new Top for the Bitcoin.(Red Lines)
We will test the previous Top, perhaps go just 5-10 dollars upper and after make a massive drop. This kind of pattern is called a double top. The double top is a very bearish pattern that you can always meet when we are trying to make new highs.
How to know which scenario will happen?
It is impossible hehe but you can have some indicators to help you :
- If you see we are able to break easily the resistance line (orange line) with big volume (look the green circle), we are doing the scenario 1.
- If you see we are stucked during some hours around the resistance line, that we are testing it but we are not able to break it with volume, be prepared for the scenario 2.
Take care all,
Cryptopassion.io
Disclaimer : Never invest more than what you can afford to loose. This post is my personal opinion, do your own research before making any investment decisions. If you make any trades after reading this post, it is completely in your responsibility. I am not responsible for any of your losses. By reading this post you acknowledge and accept that.
Version française ici : [FR] BTC - très proche du sommet - 2 scénarios possibles
Good stuff. I tend to agree with your analysis, seems like if $BTC breaks through ATH's and past $5,000, we might be in for an agressive run. Conversely, if BTC gets shutdown hard at the $5k mark, it could mark a bit of a sell off downwards.
Personally, I see more money flowing from altcoins into BTC potentially moving Bitcoin past 5k. It'll be fascinating to watch it play out.
Very good comment. We are totally aligned my friend. I wish you massive profits.
Hehe good post. .i will be looking forward to your page for a article if we cross the organe line ;)
hehe no problem and with pleasure. Take care
Thanks for this post I’ve invested into Bitcoin is all very interesting and useful xxx 👌
You welcome
Hi everybody! I would like to see a bullish BTC, of course. But I don´t think so. Bearish PinBar at resistance and a completed Gartley pattern show downwards. We will see. Good luck! And many thanks for your good post!
See for Gartley: https://steemit.com/deutsch/@quincho/btc-gartley
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If it falls hard, will it go back to the 200 day line?
It could be, we will have a massive correction at least
Nice content. upvoted & followed.
I wrote a similar article, check it out
https://steemit.com/bitcoin/@gazur/bitcoin-possibilities-blockchain-future-gold-mines
considering the massive volume we have at the moment, the bullish rally may survive this time.
Based on the way we have run up so fast, we will hit it the top then back off, hit it again, then back off then break through. This is often how tops are crushed. Look for moves up then consolidation just below. I'm guessing 2-3 attempts before we go higher.
Thanks for your analysis. I guess we go with scenario 2 :( But I hope for #1 of course. The next weeks gonna be quite exciting!
I think the rally will continue. People want to buy into the fork opportunity.
May I learn how to spot corrections? Was that previous low during the time when JP Morgan manipulated it?