#BTC Bears TA is Insanely Crazy, 8k coming not to 2024?
I don't want to believe it too but if the current pattern is a bear flag with the flags pole breakdown from 30k range then it is likely that a bear flag will target atleast 70% to 100% of that pole. Could BTC sellers possibly be eyeing a target of 8k and when can that be?
From the above chart, bulls still have 2 possible saviours of 18600 and 16200 but a break of 18k is bye bye bulls as there is no assurance that 16200 will hold especially if the current bear pattern plays out.
When can this occur, the 8k?
From my perspective, we could see more dump in September to around 18600 , no guarantee as the chances of bounces is 65% at this Support but if they succeed then November could bring a short term profitable buy as price is likely to pump on BTC move, December and January base on the current bullish one inside bar candle but I don't see this bounce surpassing all time ATH infact 28k to 38k is my first traget and second for this bounce
From the above chart, bulls still have 2 possible saviours of 18600 and 16200 but a break of 18k is bye bye bulls as there is no assurance that 16200 will hold especially if the current bear pattern plays out.
When can this occur, the 8k?
From my perspective, we could see more dump in September to around 18600 , no guarantee as the chances of bounces is 65% at this Support but if they succeed then November could bring a short term profitable buy as price is likely to pump on BTC move, December and January base on the current bullish one inside bar candle but I don't see this bounce surpassing all time ATH infact 28k to 38k is my first traget and second for this bounce
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.