๐BTC: local and global scenarios! You haven't check it yet?
๐Hi friends! Today I will explain to you what the potential scenarios I see for BTC. Will the price go to the new ATH or BTC will it fall by 50% after the breakdown of the bearish flag? Read the review below!
The price has been in a consolidation channel for more than 3 months and is also creating a bearish flag. Ideally, this pattern could be realized and the price should drop by 50%. But what happens in real life?
๐ฉAs I said in the previous ideas, be more crafty and apply different trading tools together as 1 trading strategy. For example, the lower boundary of the wedge and the channel have become support for price. Traders who were looking globally started buying Bitcoin on a test of the lower boundary, so did traders who were looking locally and started buying as well. The price rose 3.5% after that.
What do you think didn't happen? If we look at the volume indicator, I see no growth. 2 scenarios why it happened:
๐ถLack of liquidity to buy. There are not enough sellers in the market for the whale๐, that is why they usually do the manipulations, which we didn`t see this time. So the price can go lower.
๐ถThe whales๐ have no willingness to BUY now because they know more than we do. I think you understand that if the BIG guys owns $1B, they have it`s own research center and traders who have access to insider information as well. Highly possible, that they have already accumulate enough BTC to sell higher and higher. It`s a bullish scenario!
Key level. It is important to mark the key level of $45500. It can become a local resistance for the price. If large volumes appear at a false breakout, the price can FALL below $38k again.
If the price start to squeeze under the key level, it will be the best trigger for the growth continuation!
โผIn any case, we should expect high volatility in the coming months.
๐ฅAlso, I recorded the video update for you with a local scenario and a trendline breakout! Click on the image!
Press the "like"๐ button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
The price has been in a consolidation channel for more than 3 months and is also creating a bearish flag. Ideally, this pattern could be realized and the price should drop by 50%. But what happens in real life?
๐ฉAs I said in the previous ideas, be more crafty and apply different trading tools together as 1 trading strategy. For example, the lower boundary of the wedge and the channel have become support for price. Traders who were looking globally started buying Bitcoin on a test of the lower boundary, so did traders who were looking locally and started buying as well. The price rose 3.5% after that.
What do you think didn't happen? If we look at the volume indicator, I see no growth. 2 scenarios why it happened:
๐ถLack of liquidity to buy. There are not enough sellers in the market for the whale๐, that is why they usually do the manipulations, which we didn`t see this time. So the price can go lower.
๐ถThe whales๐ have no willingness to BUY now because they know more than we do. I think you understand that if the BIG guys owns $1B, they have it`s own research center and traders who have access to insider information as well. Highly possible, that they have already accumulate enough BTC to sell higher and higher. It`s a bullish scenario!
Key level. It is important to mark the key level of $45500. It can become a local resistance for the price. If large volumes appear at a false breakout, the price can FALL below $38k again.
If the price start to squeeze under the key level, it will be the best trigger for the growth continuation!
โผIn any case, we should expect high volatility in the coming months.
๐ฅAlso, I recorded the video update for you with a local scenario and a trendline breakout! Click on the image!
Press the "like"๐ button, write comments and share with your friends - it will be the best THANK YOU.
P.S. Personally, I open an entry if the price shows it according to my strategy.
Always do your analysis before making a trade.
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Check the idea about Greenwich indicator!
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