I'm not a market veteran, but i notice some important lines who will probably slowdown the market in case of rupture, or will make it fell bullish again.
In green i notice the previous price falling stop near at the support represented by 2 highs, and it kind respecting, until now. Probably if the rupture confirms, i expecting prices going down until 24000 to 25000, when its gonna touch another highs represented by the yellow line. If the yellow line brakes, probably the price will go down until 17000 to 19000, where we have a historical inclined support, and after that who knows, Apocalypse haha (just kidding). But is hard to see that scenario, too many supports to brake, and after we gonna have to pass a EMA of 1400 days in purple, wich historical was the best prices to buy before a long bull run.
For other side, if we pass through the blue line without lose the green, that will indicate a bullish push for me, because the price will just hold itself until the bears get tired and lose some good chart references. And after that the teal line will be tested, and if it pass through the next target will be above 70000 to test a historical inclined resistance, and after will that probably will go to the moon again.
That's how i see the chart,we getting prices to low, too much close to the 1400 days EMA, and we are too far from the next stock-to-flow reference yet. The long terms odds are very bullish for me, but those lines i see will reflect the time that will be consume before happens the next bull run.
That's its. Sorry if my analysis are not accurate. I hope this all makes sense. Either bullish or bearish, i think those supports and resistances will be like drilling the market to fell what probably will happen for the next days or months.
In green i notice the previous price falling stop near at the support represented by 2 highs, and it kind respecting, until now. Probably if the rupture confirms, i expecting prices going down until 24000 to 25000, when its gonna touch another highs represented by the yellow line. If the yellow line brakes, probably the price will go down until 17000 to 19000, where we have a historical inclined support, and after that who knows, Apocalypse haha (just kidding). But is hard to see that scenario, too many supports to brake, and after we gonna have to pass a EMA of 1400 days in purple, wich historical was the best prices to buy before a long bull run.
For other side, if we pass through the blue line without lose the green, that will indicate a bullish push for me, because the price will just hold itself until the bears get tired and lose some good chart references. And after that the teal line will be tested, and if it pass through the next target will be above 70000 to test a historical inclined resistance, and after will that probably will go to the moon again.
That's how i see the chart,we getting prices to low, too much close to the 1400 days EMA, and we are too far from the next stock-to-flow reference yet. The long terms odds are very bullish for me, but those lines i see will reflect the time that will be consume before happens the next bull run.
That's its. Sorry if my analysis are not accurate. I hope this all makes sense. Either bullish or bearish, i think those supports and resistances will be like drilling the market to fell what probably will happen for the next days or months.