30k bull floor for BTC?
I didn't want to make the chart more messy than it already is with fibs so do your own work.
So I opted to segment the chart by volume/bars and psychological areas of buy/sell and market making.
So there are some ideas that 39.5 is pretty much the end for a bullish cycle.
I don't think that is the case.
I'm making the case that the strongest support is at 30-35k area, and there is still a regression channel open which could invalidate the previous major higher low.
This could correlate with the 3 wave pattern we see throughout, and I think there is no other way than dipping down hard now before going up (if going up).
The future really has to tell us about what the real cycles are of BTC, but maybe THIS is the bear market, and we are going to trend towards 28-24-10-18 and then up again, or maybe 30k is the floor and we will never look back.
Just a thought that in any case, there is still a channel to look out for.
So I opted to segment the chart by volume/bars and psychological areas of buy/sell and market making.
So there are some ideas that 39.5 is pretty much the end for a bullish cycle.
I don't think that is the case.
I'm making the case that the strongest support is at 30-35k area, and there is still a regression channel open which could invalidate the previous major higher low.
This could correlate with the 3 wave pattern we see throughout, and I think there is no other way than dipping down hard now before going up (if going up).
The future really has to tell us about what the real cycles are of BTC, but maybe THIS is the bear market, and we are going to trend towards 28-24-10-18 and then up again, or maybe 30k is the floor and we will never look back.
Just a thought that in any case, there is still a channel to look out for.
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