Bitcoin (BTC/USD) has formed a head & shoulders resistance price pattern under $31,000 in May 2023.
Support Price Target(s) below are: $25000, $24000, $22000, $20000.
Bitcoin needs to establish and hold a price support level above $20,000 to maintain an Uptrend in 2023.
note: the longer-term price trend for Bitcoin could take months to establish and develop.
A lot of bad news is being talked about bitcoin those days and this inpact btc hard, if last wave is a drop correction btc will go futher down maybe next to 13500 then 11000( second scenario)
First scenario is if btc move up to 19800 but also there is bad move for bitcon becouse after that btc can crash hard
New bottom 📉
I look to all high time for BTC and i found, Every new AHT, that comes a correction ( - 84% to - 93 % ) 📉
A B C D ( AHT )
A = D , B = C 👀
A = - 93 % correction
B = - 84 % correction
C = - 84 % correction
D = Until now ( - 69% correction ) i think we will go to - 93 % correction 👀
BTC ==> 12K $ 📉
BTC ==> 6k $ 📉
--------
New top or AHT...
After checked in high timeframes, seems that bearish trend is not over, we can easyly see in chart Wyckoff's Distribution pattern about to start Phase E, so i checked older supports/resistances for this analisys and there is a pivote zone between $10,700- $10,450, so i expect BTC reject this zone with to much strenght creating long tail candlesticks.
friends, as you know i have been bullish since 40k buy opportunity and been aiming at 46.5k.
Even in the days there has been a lot of doubts i hodled and knew after re-tests the price would push up.
You know this market always goes the opposite of what the majority thinks.
It is not yet time to be completely be bullish.
We need one more dip before 50k otherwise...
BTC Long Leverage Positions are very high and we might see a drop in order to liquidate the long positions.
TRADE CAREFULLY THESE UPCOMING DAYS.
Make sure to take profits and have some USDT prepared to buy some discounted coins in case this drop happens.
*NOT FINANCIAL ADVICE
Is it time to make a Shock to the market.?! 😈
It's so important Zone and Time for ₿ITCOIN
Will Be Done.?!
New ATH is available Soooon....!!! 🚀
Don't panic.
Bitcoin analysis...only look for a long on the shaded levels then hold for a long term🔥u can enter on paper trade I won't advise to risk with real money 💰
44k reached and holding fine as predicted.
2 downtrends broken already and pushing for the next one.
Be ready for re-tests.
This weekend is very important and i hope to see a push to 46.5k.
Don't be greedy and take profit on your way up!
NFA.
As my previous analysis has shown 46.5k was coming. There has been a lot of doubt but here we are, second goal, 46.5k, is reached after days of re-test.
Congrats to everyone who hodled and added to their bags!
As i said before, fun times has begun, enjoy it!
Don't forget take some profit.
Patience and stop-loss!
NFA.
That was a beautiful dip that tested down to 40k gradually and holding above my purple line which is the downtrend that began in 14th of August.
This downtrend line has been successully tested 3-4 times within a month.
I hope you were able to use this dip as a buy opportunity.
Fun times ahead for those who are patient!
We will hopefully see it break 44k soonish...
Relatively high volume candle is here as i mentioned earlier.
We are below my 40.17 rsi line but above 30 which is a sign that we can still go up but there will be resistance.
This dip can be used as a buy opportunity however it is too early to say the downtrend is over and to be completely positive.
I know i have been bearish for days but you can see why....
