Here's our current issue which we are dealing with in this market. Bitcoin is riding right on our resistance and support levels which is 'extreme' to say the least for crypto market. Downtrend below our long term support which has been valid since late 2017 will bring us much closer to further supports which are located at $5,150 , $3000 levels.
Upon a successful upward break, which is what we all want to see now, we will pull over $7,500 in short term and $10,000 in few weeks thereafter.
SUMMARY
I suppose 2 options of further trend:
Bulls will break through 6350$ and continue the rise to 7k$.
BTC drops down to lower border of the channel, probably drop will be with pin bar. Then we will see nice bounce, breaking through the upper border of downtrend channel and continuation rise to7k$ and beyond.BTC fall to 3k$. This option is quite real, but I'm not sure that whales will dump the market till this value. Because 3k$ value is located behind the event horizon and it would be very difficult for BTC to return back to current values. Many people will lose their faith to crypto and leave the market at the end.
I will update this chart as new info comes up for my followers.
The information provided by @arjunsingh is for informational purposes only. It should not be considered legal or financial advice. You should consult with an attorney or other professional to determine what may be best for your individual needs.
i think from next month bitcoin goes up
whats the time course for bull run?
can't predictable but soon
i hope so too
wan is comes bull run in july tle me sir ?....
i hope we have to wait for atleast 1 month to see btc crossing 10000
Nice work Arjun. Keep it up buddy.
thanks brother @shayanzai i'll allways try to give my best
Nicely explained. I believe bitcoin bull run is near.
I have found that the mining cost of BTC in USA is around $4700, so i can guess that the price won't go below current price.
On the off chance that the Bitcoin clears over the $8578 level, the following obstruction will be around $9930 level stretching out up to $11800 level. The MACD is likewise giving a positive uniqueness affirming of bullish assumption in the market. We can witness some volume based purchasing exercises from the lower level conceivably demonstrating of the scrape the bottom of the current downtrend. The Bitcoin costs are probably not going to tumble from these level yet alert ought to be kept up.
Hey arjun Im also a trader and analyst.. In My opinion whales are playing with us and Fill there bag.. But soon Bull Run will start
hey... @avinashdebnath brother you are right and belive me its not bad if BTC will go down more, because after that we will see the same rally like last rally
We have to care about health, family,