Hey guys ! as expected (not so fast but expected) the $ 9000 (78.6 Fib. Retr.) support has broken and dropped to $ 8350 support, here has formed a first bottom but will not be long. I expect further price hikes in the direction of $ 6000 support line next week. I think it's very unlikely to see further price drops below this line, if so Bitcoin will take more than a year to reach prices beyond $ 10000. However, I see a W education there, which often leads to a sharp rise in prices. If after the second bottoming at $ 6,000 there is no breach below $ 6,000, I am very optimistic that we will face a bull phase. The bull phase will fall back to $ 10000 on the $ 12000 resistance line.
However, when the W forms, you have to reevaluate the entire market, so let's be surprised by the next week, which will be largely responsible for the medium to long-term move.
Have a nice weekend guys !
Regards
Danny
However, when the W forms, you have to reevaluate the entire market, so let's be surprised by the next week, which will be largely responsible for the medium to long-term move.
Have a nice weekend guys !
Regards
Danny
The analyses provided are for informational purposes only and do not constitute financial advice or recommendations to buy or sell anything. The information presented is based on personal research and interpretation.
