In my previous idea i said their will be an uptrend, I still believe that there will be an uptrend but here's my analysis.
After 3-4 candles touch the 10.5k resistance or even the 11k in the daily time frame (1D), there will be a breakout going down. Here's why.
If you zoom the chart all the way out and look at the moment Bitcoin hit almost 20k, it had a gigantic breakout. After that, the market started going up again but sellers kept taking over.
If you pay attention to the trend while the chart is zoomed out, it's actually going down. Yes, there are breakouts and time the market went up, but it always came back down.
So my theory is, Bitcoin will keep on going down till there's another big breakout that can surpass the 20k resistance.
After 3-4 candles touch the 10.5k resistance or even the 11k in the daily time frame (1D), there will be a breakout going down. Here's why.
If you zoom the chart all the way out and look at the moment Bitcoin hit almost 20k, it had a gigantic breakout. After that, the market started going up again but sellers kept taking over.
If you pay attention to the trend while the chart is zoomed out, it's actually going down. Yes, there are breakouts and time the market went up, but it always came back down.
So my theory is, Bitcoin will keep on going down till there's another big breakout that can surpass the 20k resistance.
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