BTC-Continuation of a bear market?
Hello guys , its my first publish TA on bitcoin, i entered in crypto before the parabollic bull run in 2017 and it was awesome xDD. 2018 was not so great because not a lot of solutions to short the market , nowadays we have plenty of options and some with stable coins like binance futures with USDT.
You all know the history of price since 2017 to now so in this analysis i simple still believe that we are still in bearish side and this last pump from 7.4k to 10k was just the whales moving around and clearing weak hands and oppening some big short positions believing that the bear market is to stay at least a few months ..
The lines in dark red and ligth green are possible resistances and supports , on the weakly it can still be a channel in 60% to close , the dark one is main last resistance before the pump and IF becames support in the nexts days i will getting less bearish on this ...in the minor timeframe i put some key lines where resistances should playing around..in short term btc should not pass the 8.9k - 9k resistance and drop to at least 8.4k-8.5k and form again 8.7k resistance creating the next down channel to the lowest price of 7.4k and breaking it down . My targets are 5k at least before the next True bull run .. Please comment good or bad opinions on this . I hope u all get good profits..
You all know the history of price since 2017 to now so in this analysis i simple still believe that we are still in bearish side and this last pump from 7.4k to 10k was just the whales moving around and clearing weak hands and oppening some big short positions believing that the bear market is to stay at least a few months ..
The lines in dark red and ligth green are possible resistances and supports , on the weakly it can still be a channel in 60% to close , the dark one is main last resistance before the pump and IF becames support in the nexts days i will getting less bearish on this ...in the minor timeframe i put some key lines where resistances should playing around..in short term btc should not pass the 8.9k - 9k resistance and drop to at least 8.4k-8.5k and form again 8.7k resistance creating the next down channel to the lowest price of 7.4k and breaking it down . My targets are 5k at least before the next True bull run .. Please comment good or bad opinions on this . I hope u all get good profits..
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