$BTC to $40/41K? - The #bitcoin elephant in the room
It is all good and well when the markets are good and things are going great to be positive and look at charts in our favor.
This time around things are beginning to look a bit more tricky and the market is beginning to show some bitcoin reversal sentiments as the altseason continues.
The good news is that we are still in a bull market that has slowed down for the past couple of weeks.
As things stand I see a market that is perhaps searching for liquidity to continue the strong bull run.
This mark down phase could see the the price of #bitcoin plummet down a further 20% to catch some liquidity at the $40 000/$41 000 levels.
There seems to be magnetic confluence calling for these prices.
For the continuation of the bull run, the market needs to successfully cancel the head and shoulder pattern as well as a break out of the bull flag and finally begin to create new highs and higher lows.
The 440/41K Levels are the last line of defense for the bull market.
Should the bulls fail to defend those levels we may enter a full on and deeper bear market correction to $20 000.
We will discuss the bear market should the bulls fail to defend the 40/41K.
For now sit back, relax, and enjoy the show.
This time around things are beginning to look a bit more tricky and the market is beginning to show some bitcoin reversal sentiments as the altseason continues.
The good news is that we are still in a bull market that has slowed down for the past couple of weeks.
As things stand I see a market that is perhaps searching for liquidity to continue the strong bull run.
This mark down phase could see the the price of #bitcoin plummet down a further 20% to catch some liquidity at the $40 000/$41 000 levels.
There seems to be magnetic confluence calling for these prices.
For the continuation of the bull run, the market needs to successfully cancel the head and shoulder pattern as well as a break out of the bull flag and finally begin to create new highs and higher lows.
The 440/41K Levels are the last line of defense for the bull market.
Should the bulls fail to defend those levels we may enter a full on and deeper bear market correction to $20 000.
We will discuss the bear market should the bulls fail to defend the 40/41K.
For now sit back, relax, and enjoy the show.
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