I know it may sound scary but prepare yourself for bitcoin to drop soon, I hope I’m wrong, but that’s what the technicals are showing.
If Bitcoin confirms double top it could drop below $12,000.00.
If that happens it automatically triggers head & shoulder pattern which would take us to $8,000.00.
Major drop is inevitable, crypto market needs to flush out all sellers. If there are more believers than speculators then crypto will hold $8,000.00 level otherwise prepare for crash.
Bitcoin is very week along with other currencies. It will became sleeping giant, but once it wakes up it will be historic.
Take it from the positive side that it will be you ur opportunity to get Bitcoin at discounted price.
@milano1113 What stage do you think we are in for the human psychology market graph?
You can’t predict it, but by comparison there are some similarities.
In TA, the volume has to confirm the Head and Shoulders pattern as the same pattern. It does not. Therefore, TA does not confirm that the above is a true H&S. Please don't spread FUD when you don't know what you are talking about.
I hope I’m wrong, but if I’m right it would be great aportunity to buy at discounted price. Bitcoin has been very week after huge run. Eather way it will consolidate for long time or pull back. As I mentioned in my post it is just my opinion.
What do you think?
I may change my opinion if we make a higher high, but it’s less likely with all the crypto keeping coming out.
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