BTC has just come to the level $9500 - $10000 and closed a GAP on CME Bitcoin Futures chart. Now we should expect a local trend reversal. Why? There are a bunch of reasons. We can see a bullish convergence on the hourly chart, also we see a logical finish of an ABC correctional phase. By the way, below the $9500 are located a lot of LONG Stop Losses, they will be hit with high probability. And only after this the price will be able to freely go upward.
However, we need to understand that there are a lot of bears which came lately, so now it will be much more difficult for BTC to go higher as now there are a lot of strong resistances above the $10000 level. Because of the strong bearish pressure, in mid-term vision Bitcoin can go to the accumulation or even to the distribution phase. It will help bulls to gain more power to break through the $14000 resistance.
The worst situation for Bitcoin will happen if this accumulation phase will last for a very long time. In this case, the flat can take much more time than expected. However, it will be good for ALTCOINS. In any case, the market will offer a lot of opportunities to earn, so don't upset.
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hi, your last wave could be a wave 3 not a 4. so in this case we start a 4 up and a 5 down. just for info. maybe helpful. happy trading. :-)
BTCINVESTING
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here my current chart. resistance reached. next target could be 9K. lets see. :-)
Wolverinos
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until now your opportunistic view was correct... and now?
Amjadsid
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wave 3 in h1 not complete yet :)
Cryptonite_trader
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Nice analysis, this is what time seeing
asdasadsadsadsda
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Whales doing great manipulations again / Bitcoin to 11600-11700
SpartaBTC
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A good idea.
cryptohopper
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The BNB upward trend is showing weakness signals:
RealMcafee
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pkb6698
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Hi. I am seeking advice from many famous traders. I think that if BTC reach the last peak in 2017 before 2020 Halving, there will be possibility that the four-year cycles of BTC is likely to change to three-year. What do you think, your precious opinion is a great help to many people.