BTC- Technical & volume analysis (Keep your sweaty palm dry)
No, this is not the worst crash ever... That would be the overstatement in the crypto world. BTC dropped from about $10500 to $3600 from Feb 13 2020 to March 13 2020. During that stretch, BTC price went from 9.2k to 3.6k in one week alone from March 7 to March 13.
How will the price action play out?
#1 Scenario- Bullish reversal, then price consolidates for a while inside the supply zone before it breaks out (more likely) or break down (less likely).
#2. Scenario- Bullish reversal, then price gets rejected inside the supply zone and heads straight down to the demand zone.
#3. Scenario- Price goes sideway for a while then breaks out or break down to the demand zone.
#4. Scenario- Price crashes below the ATH of the previous market cycle and it's game over for everybody (Doomsday scenario).
As always, it's about playing the long game here. Don't try any reckless trading at this point at the expense of missing out on the long-term cycle.
How will the price action play out?
#1 Scenario- Bullish reversal, then price consolidates for a while inside the supply zone before it breaks out (more likely) or break down (less likely).
#2. Scenario- Bullish reversal, then price gets rejected inside the supply zone and heads straight down to the demand zone.
#3. Scenario- Price goes sideway for a while then breaks out or break down to the demand zone.
#4. Scenario- Price crashes below the ATH of the previous market cycle and it's game over for everybody (Doomsday scenario).
As always, it's about playing the long game here. Don't try any reckless trading at this point at the expense of missing out on the long-term cycle.
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