A kind reminder for the Bitcoin update where I was looking for a pop to the upside above the trendline and to 4.9 (or in this area) so that the market can wrongfoot a lot of people thinking the bear market is over before a HUGE move down:
The Charts:
The video update:
Now there is a lot of euphoria and all youtubers will come out declaring the bear market is over. But I don't really think so.
The action right now is similar to the one back in November 2014 with a massive pop above previous highs and then a slow decline below support and eventual halving of the price, in todays terms this will translate to 1500$-1750$ area.
We might get a few more days of buying because of all the euphoria so it is important to wait for confirmation.
The Charts:
The video update:
Now there is a lot of euphoria and all youtubers will come out declaring the bear market is over. But I don't really think so.
The action right now is similar to the one back in November 2014 with a massive pop above previous highs and then a slow decline below support and eventual halving of the price, in todays terms this will translate to 1500$-1750$ area.
We might get a few more days of buying because of all the euphoria so it is important to wait for confirmation.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.