Things weren't as clear as I thought they were in my previous idea. We're holding our ground in such way that a bullish outcome is not unlikely, but we'll find out soon-ish. I still think we'll be going sideways for a bit around this level, and things will probably get as exciting as dangerous once we reach the blue area around $8.4K-$8.5K.
If you look and the chart formation since late-mid November, the nature of the following movement should be bullish, and there are too many people who will see this moment as a trend reversal confirmation. I would wait a bit longer before making such claim, but it's possible.
My expected target will be around $9.5K, and from there lots of things could happen, so maintain your guard up for now. It wouldn't surprise me if we manage to reach $10K once again, but crashing down to $5K wouldn't surprise me either. For me those levels (above $10.5K and below $5.5K) are the zones where I could embrace the bullish bias with a fair amount of certainty.
That's it,
Stay safe!
Cheers!
If you look and the chart formation since late-mid November, the nature of the following movement should be bullish, and there are too many people who will see this moment as a trend reversal confirmation. I would wait a bit longer before making such claim, but it's possible.
My expected target will be around $9.5K, and from there lots of things could happen, so maintain your guard up for now. It wouldn't surprise me if we manage to reach $10K once again, but crashing down to $5K wouldn't surprise me either. For me those levels (above $10.5K and below $5.5K) are the zones where I could embrace the bullish bias with a fair amount of certainty.
That's it,
Stay safe!
Cheers!