BitcoinLong
#BTC 75% Draw Down Bullish Mid Cycle
A BULLISH scenario may be in play
There are 2 mid cycle 75% Draw Down Scenario at play.
2013 & 2020
The entire market is on a knifes edge, waiting for a move.
17.5k will nee to be breached and there could be an explosive upward march to 23k.
The resistance will need to be broken to make a sound decision to determine if it is a mid cycle bullrun, if
23K is breached leaving the entire market waiting for the dip.
============End Bullish scenario
Currently Bearish waiting on the 85% BTC Draw Down narrative below:
Market Psychology: Nearing the end of the "ANGER" Stage waiting on the retrace.
1.bp.blogspot.com/-cgxftGv_nv0/XV1fMCt4VVI/AAAAAAAABBw/L6D0cG0gX7IxuxjKntFdUv77-rc6ZMQGgCLcBGAs/s1600/marketcycle.png
There are 2 mid cycle 75% Draw Down Scenario at play.
2013 & 2020
The entire market is on a knifes edge, waiting for a move.
17.5k will nee to be breached and there could be an explosive upward march to 23k.
The resistance will need to be broken to make a sound decision to determine if it is a mid cycle bullrun, if
23K is breached leaving the entire market waiting for the dip.============End Bullish scenario
Currently Bearish waiting on the 85% BTC Draw Down narrative below:
Market Psychology: Nearing the end of the "ANGER" Stage waiting on the retrace.
1.bp.blogspot.com/-cgxftGv_nv0/XV1fMCt4VVI/AAAAAAAABBw/L6D0cG0gX7IxuxjKntFdUv77-rc6ZMQGgCLcBGAs/s1600/marketcycle.png
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.