Sorry for not posting yesterday.
We again saw that classic via the again, I've marked it with arrows.
This again results in a break higher starting around 23:00pm last night topping out around 35.5k at 9:00am this morning UK time.
I feel like the price is potentially going to break out the high at 35.5k but soon after retrace and continue the descent down to the 28k areas come next week.
If the pressure is strong the BTC price doesn't have to create a new high like my forecast, we could see a straight drop from here looking to target the lower trendline of this premature by early next week.
Could see a potential liquidity pool if the high gets broken out as retail traders will look at this as a long opportunity with their stops below the previous low. The stop losses of those traders would then give some liquidity for downside as when those stop losses get hit those traders are basically selling back their long positions pushing the price lower.
1. Everyone accepts the bear market. We see a swift fall taking only 1,2 months down to the 20k levels, we then see a fast accumulation phase of the discounted coins and then ATH by December early Jan 2022. 👍🏼
2. A slow and drawn out drop down to the 20k area with some very large pull backs as bulls don’t accept the bear market, this would then result in a descent taking much much longer... Upwards of 5 months I’d say before we hit the reversal level. 👎🏼
I know which scenario I want, if this is a confirmed bear market the quicker we hit 24k/20k the better😂 whatever happens Bitcoin and crypto are gearing up for a massive 2022”
that’s the comment to save you the time 👊🏼
Loved your analysis, keep it up man 🙏👍