BTC - Back to $ 35.000 / $ 30.000 or even $ 25.000 is possible
When you look at the BTC price on the weekly time frame it’s inevitable that Bitcoin is going to decrease in price. According to an AI indicator from Tradingview the BTC price has ended Elliot wave 3 and is going to make a correction wave 4. But till where the price will go down is not sure yet. There are three possibilities also depending on the sentiment.
1) The BTC price can find support on the red line of the Awesome Bollinger Bands around $35.000 or $37.000.
2) The BTC price does not find support on the red line of the Awesome Bollinger Bands and will go back to Fib. Level 1.0 which is around $ 30.000
3) In worse case people panic so much that the price will crash back to around $ 25.000.
FOMO is created and big investors from institutional companies will be very happy to buy low so that they can make bigger profits.
Be safe, be smart and make sure you understand how to read the graphs so that no one can fool you.
1) The BTC price can find support on the red line of the Awesome Bollinger Bands around $35.000 or $37.000.
2) The BTC price does not find support on the red line of the Awesome Bollinger Bands and will go back to Fib. Level 1.0 which is around $ 30.000
3) In worse case people panic so much that the price will crash back to around $ 25.000.
FOMO is created and big investors from institutional companies will be very happy to buy low so that they can make bigger profits.
Be safe, be smart and make sure you understand how to read the graphs so that no one can fool you.
Comment:
BTC will first comple Elliot wave b before bigger price drop as predicted in this analysis will occur. It's Altcoin Season, so coming weeks I expect some nice rallies. Short before the Halving the bigger price drop is expected.