3 Possible Scenarios for Bitcoin
Diupdate
I think there are 3 possible scenarios in bitcoin 0.24% right now.
1- Healthy bearish dump (yellow): If this is a healthy dump, we should expect to revisit 5.8k resistance as next move and after that continue to move downward. This scenario will result in months of consolidation below 6k.
2- Unhealthy bearish dump (red). If we continue to move downward without testing 5.8k, I think it will be an unhealthy bearish dump and consolidation below 6k will not take as long as 1st scenario. We will dump hard and fast, so the come back will be hard and fast as well.
3- Bullish spring (green). If this is a bullish spring to shake out weak hands and create liquidity, then first we will visit 5K area (maybe a little lower up to 4.5k) and then pump and get through 5.8k resistance at first attempt, rekting resistance shorters.
In all scenarios, getting above 6k will initiate next bull run.
1- Healthy bearish dump (yellow): If this is a healthy dump, we should expect to revisit 5.8k resistance as next move and after that continue to move downward. This scenario will result in months of consolidation below 6k.
2- Unhealthy bearish dump (red). If we continue to move downward without testing 5.8k, I think it will be an unhealthy bearish dump and consolidation below 6k will not take as long as 1st scenario. We will dump hard and fast, so the come back will be hard and fast as well.
3- Bullish spring (green). If this is a bullish spring to shake out weak hands and create liquidity, then first we will visit 5K area (maybe a little lower up to 4.5k) and then pump and get through 5.8k resistance at first attempt, rekting resistance shorters.
In all scenarios, getting above 6k will initiate next bull run.
Catatan
First scenario (yellow) invalidated and it was the worst scenario. Now we wait for the reaction at 5k area.Trading ditutup: stop tercapai
No bounce, more pain. Bears are serious. They can bring down the price wherever they want. Stay away from trading until dust settles.
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