Which Way BTC ⁉️
BTCUSDT | Weekly:
One major lesson this week is looking at Bitcoin bigger picture. See what the macro charts are saying, they give clearer path, and predict possible drops or rise. The recent drop was clearly inevitable based on these macro data.
Before we see another ATH for bitcoin is estimative 21-24 Weeks out. 5 - 6 Months out. That is definitely Year 2022!!
ANALYSIS:
** Golden pocket bounced nicely in last drop
** Confluence at these area with weeks-long old support
** Short-time move upward was rejected at the "mild resistance" //MA 20 confluence
** Bitcoin is expected to continue consolidation in the current range
Worst Case Scenario:
*****Because Bitcoin is a play tool for the whales, I do make allowance for exceptions
** If GP, current Support is broken by any means, Fib .786 is the ultimate reversal point. This is at 37k BTC.
It will be reasonable to trade smaller TFs this period for day traders. HODLers will have to wait long time for another ATH.
Follow 🚶 CryptonKidd for unbiased analysis and insights on Altcoins.
Check linked analysis on former analysis where I warned of this crash danger: https://www.tradingview.com/chart/BTCUSDT/dNaftI2L-BITCOIN-May-Be-In-DANGER/
One major lesson this week is looking at Bitcoin bigger picture. See what the macro charts are saying, they give clearer path, and predict possible drops or rise. The recent drop was clearly inevitable based on these macro data.
Before we see another ATH for bitcoin is estimative 21-24 Weeks out. 5 - 6 Months out. That is definitely Year 2022!!
ANALYSIS:
** Golden pocket bounced nicely in last drop
** Confluence at these area with weeks-long old support
** Short-time move upward was rejected at the "mild resistance" //MA 20 confluence
** Bitcoin is expected to continue consolidation in the current range
Worst Case Scenario:
*****Because Bitcoin is a play tool for the whales, I do make allowance for exceptions
** If GP, current Support is broken by any means, Fib .786 is the ultimate reversal point. This is at 37k BTC.
It will be reasonable to trade smaller TFs this period for day traders. HODLers will have to wait long time for another ATH.
Follow 🚶 CryptonKidd for unbiased analysis and insights on Altcoins.
Check linked analysis on former analysis where I warned of this crash danger: https://www.tradingview.com/chart/BTCUSDT/dNaftI2L-BITCOIN-May-Be-In-DANGER/
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