Hi,
Since halving is incoming for bitcoin, bulls are making moves for a good price to buy big again. I think that's the mean reason of falling price.
Orange diagonal line is the multiyear support. We are close to that one. I've mentioned some important area's in the chart.
I think bulls are planning to buy big before the halving. Therefore was a sharp buying price needed. Most logical one is that the bulls will buy again when the price will be in that small triangle area. If price will hold with good volume and diagonal support will hold, expect a big up. That triangle could be a bounce area with that horizontal support from may '19.
But if they're willing a sharper price move you could expect prices around 3k-4k and make a double button first before big up.
2 ways:
1. price will be lower and will bounce in that triangle area after succesfull testing the diagonal support
2. price will be lower than orange multiyear support and will go to the 3k 4k area
thanks for reading and for your likes.
Since halving is incoming for bitcoin, bulls are making moves for a good price to buy big again. I think that's the mean reason of falling price.
Orange diagonal line is the multiyear support. We are close to that one. I've mentioned some important area's in the chart.
I think bulls are planning to buy big before the halving. Therefore was a sharp buying price needed. Most logical one is that the bulls will buy again when the price will be in that small triangle area. If price will hold with good volume and diagonal support will hold, expect a big up. That triangle could be a bounce area with that horizontal support from may '19.
But if they're willing a sharper price move you could expect prices around 3k-4k and make a double button first before big up.
2 ways:
1. price will be lower and will bounce in that triangle area after succesfull testing the diagonal support
2. price will be lower than orange multiyear support and will go to the 3k 4k area
thanks for reading and for your likes.
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