Most read for bitcoin BULLS/BEARS as 10k is likely inevitable
are you bullish or bearish on #Bitcoin here are some factors that you should consider before opening a new position.
Bitcoin has been declining ever since it hit all time high around 68k and since then, their has been a lot of bias in the market, so many traders call for bullish run and some call for bear decline but my question is ARE WE IN BULLISH MARKET?.
Well this can be answered by looking on the H4 chart.
connecting the most recent higher high and higher low gave me an interesting channel which looks like it has completed wave B but is that really wave B OR the bottom that could send the price back to another all time high, well my head and shoulder scanner just identified a head and shoulder pattern that is threatening to send the price to another lower low.
the bulls has from the current price 38,400 as of when this article to 37,500 to charge back and break the channel otherwise if the bulls have their way to push price below 37400 and have a close under it. we could see another shocking sell off that would have the price hit 10k.
Bitcoin has been declining ever since it hit all time high around 68k and since then, their has been a lot of bias in the market, so many traders call for bullish run and some call for bear decline but my question is ARE WE IN BULLISH MARKET?.
Well this can be answered by looking on the H4 chart.
connecting the most recent higher high and higher low gave me an interesting channel which looks like it has completed wave B but is that really wave B OR the bottom that could send the price back to another all time high, well my head and shoulder scanner just identified a head and shoulder pattern that is threatening to send the price to another lower low.
the bulls has from the current price 38,400 as of when this article to 37,500 to charge back and break the channel otherwise if the bulls have their way to push price below 37400 and have a close under it. we could see another shocking sell off that would have the price hit 10k.
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