Bitcoins consolidation phase, in it or still towards it, Part 2
A post i did a month ago. Charts like this is to see the bigger picture and trying to stay objective. This also shows the reason about what i said in the analysis i posted few hours ago. About becoming bullish if we see a good consolidation in this zone. Since we are in a similar zone now, if the market can bounce up nicely again after a possible drop, and come close to the 12k again coming week or so, than another push up might become more likely.
At this point, as mentioned in the other analysis, i find it very hard to say for the reasons i have given. But if we see a good consolidation and then eventually break that high (assuming that high will be 12kish now), we have to assume we will see another rally. Now i am not the kind of person to think of 50/100% rally, just not seeing that happen until it happens. But a decent move should be expected at least if we see this play out and get a volume breakout.
Think a wick to like 10500 should be the max (daily candle). Ideally for the bulls, it stays above the 11.000/10.800. Lower time frame updates on BTC will be posted in another analysis.
I suggest reading the previous analysis as well for learning purposes, understanding why patience almost always defeats FOMO.
Previous analysis:
At this point, as mentioned in the other analysis, i find it very hard to say for the reasons i have given. But if we see a good consolidation and then eventually break that high (assuming that high will be 12kish now), we have to assume we will see another rally. Now i am not the kind of person to think of 50/100% rally, just not seeing that happen until it happens. But a decent move should be expected at least if we see this play out and get a volume breakout.
Think a wick to like 10500 should be the max (daily candle). Ideally for the bulls, it stays above the 11.000/10.800. Lower time frame updates on BTC will be posted in another analysis.
I suggest reading the previous analysis as well for learning purposes, understanding why patience almost always defeats FOMO.
Previous analysis:
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