BTC: REVERSAL OR BEAR MARKET CONTINUATION??
BITCOIN IS GOING TO TEST RESISTANCE ONCE AGAIN, PRICE HAS BEEN MOVING FAST WITH STRONG VOLUME APPROACHING THE RESISTANCE LINE. WE NEED A CONTINUATION/ INCREASE IN UPWARD MOVEMENT TO BURST THROUGH RESISTANCE LINE WITH AUTHORITY. In my opinion btc is going to break this trend very soon, if we see this channel broken and we enter a bull market we can see price quickly move to the 16k level. If this is another failed to break the channel, I predict the following retracement levels to find support;
1. price makes short retrace to one of the dotted blue trend lines and quickly begins an uptrend.
2. 8.2k is the 62% retracement and is baked by large volume which will provide strong support.
3. worst case scenario, the solid black trend line: long term trend line
1. price makes short retrace to one of the dotted blue trend lines and quickly begins an uptrend.
2. 8.2k is the 62% retracement and is baked by large volume which will provide strong support.
3. worst case scenario, the solid black trend line: long term trend line
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