ergal91

BTC has already bottomed at 28-30,000$ ranges

Long
BINANCE:BTCUSDT   Bitcoin / TetherUS
Welcome to this analysis about BTC . We are looking at the daily timeframe perspective, the recent events, the established falling wedge formation with multi RSR bull divergences and what we can expect in the coming days and weeks. BTC is playing ping pong in this big falling wedge and is going to break up and make a new uptrend. It is testing the strongest horizontal support level at 28-30,000 ranges. I expect a strong bounce from this point with help of RSR bullish divergences or maximum double bottom at 28-30K levels which is 1.618 golden ratio that is respected in every bull cycle and tested before reaching the top of a bull cycle. Besides this, bitcoin liquid supply ratio shows bullish divergence because of strong hands rise and the price falling. I expect BTC to break through 41-42K level and make higher high reversing the existing downtrend. Daily market structure will be changed and we'll see new ATH by 2021 and even 100,000$+ BTC by 2021. IF it fails to hold 28-30K ranges in that case we'll enter to bear market.

Comments

scary scenario if we go into bear 😬
+1 Reply
Do you really expect new ATH with this trading volume?
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