the picture is clear, we've had almost the same up move and patterns like in April (6.4k-9.9k).
unless we already go above the daily MA 200 we should find support between 7.8-8k and going close to 8.6k, after this I personally expect btc to go to 5k area and since we have various news about etfs In the upcoming months I still think manipulation will not be over yet, thats why I had said in the previous post we can also hit 11.7k or even higher targets like 13k I don't expect higher than this though. anyways if this up move ends up at 8.6-9.2k with a strong bearish div on daily like there was at 9.9k, we'll very likely go back to 5k area and I would consider a nice short opportunity.
dont get overconfident about etfs and new bullrun already.
unless we already go above the daily MA 200 we should find support between 7.8-8k and going close to 8.6k, after this I personally expect btc to go to 5k area and since we have various news about etfs In the upcoming months I still think manipulation will not be over yet, thats why I had said in the previous post we can also hit 11.7k or even higher targets like 13k I don't expect higher than this though. anyways if this up move ends up at 8.6-9.2k with a strong bearish div on daily like there was at 9.9k, we'll very likely go back to 5k area and I would consider a nice short opportunity.
dont get overconfident about etfs and new bullrun already.
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watch out for a double top (8.4-8.5k) over the next few hours/days
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daily ma 200 acted as resistance and hidden bearish div should indicate a downtrend continuation till $5.4k before going to 11.7k or a bit higher targets.
of course it could also go from here if it breaks the previous top at 8.5k anyways the first scenario is more likely.
that said before 5.4k I expect it will test the neckline as resistance (7.8/7.9k) of this double top (not really perfect) over the next days.
of course it could also go from here if it breaks the previous top at 8.5k anyways the first scenario is more likely.
that said before 5.4k I expect it will test the neckline as resistance (7.8/7.9k) of this double top (not really perfect) over the next days.
Comment:
we can see a hidden bullish divergence formed and after a lot of red days I expect a correction upwards (7.4k) before going down again since we have a bigger hidden bearish div.
anyways I still think we can hit 11k+ as long as we don't go below 5k. I'll post another view later
we can see a hidden bullish divergence formed and after a lot of red days I expect a correction upwards (7.4k) before going down again since we have a bigger hidden bearish div.
anyways I still think we can hit 11k+ as long as we don't go below 5k. I'll post another view later