Looks like an HOS pattern is playing out here.
this is looking like a good set up for a short maneuver depending on the price breaks through the trend line into the key support levels (1,2,3)
If we do not bounce off the trendline or the 1st support we are likely to see prices go back to 30-35k zone...
If we manage to break through all 3 supports at 30k,35k,40k we could see BTC slide back to electricity costs (10K) be ready to tether up as we pass support zones
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If we do manage to bounce off the trend line/support 1 then we will likely bottom out through january, start recovery in Feb with New ATH in spring time...
This is the scenario I'm banking on personally! The reason I bank on things going back up is because we have not broken out of the higher highs & higher Lows cycle on the yearly chart! sit tight be patient!
but I'm ready to short and tether up...you should be too ;)
*Not financial advice*
this is looking like a good set up for a short maneuver depending on the price breaks through the trend line into the key support levels (1,2,3)
If we do not bounce off the trendline or the 1st support we are likely to see prices go back to 30-35k zone...
If we manage to break through all 3 supports at 30k,35k,40k we could see BTC slide back to electricity costs (10K) be ready to tether up as we pass support zones
-----
If we do manage to bounce off the trend line/support 1 then we will likely bottom out through january, start recovery in Feb with New ATH in spring time...
This is the scenario I'm banking on personally! The reason I bank on things going back up is because we have not broken out of the higher highs & higher Lows cycle on the yearly chart! sit tight be patient!
but I'm ready to short and tether up...you should be too ;)
*Not financial advice*