is bitcoin safe?
Updated
ive been struggling with BTC chart for a bit, and although bitcoin experienced massive drop and is even below MA50 at the moment of publish, i think bitcoin is still safe at least for one last push before its slumber dip correction to 20k area. (its what i believe and i'll explain that later. but for now lets get back to our current situation).
looking at the daily chart, although below MA50, bitcoin instantly rejected from the main trendline that formed in december and is now above its 0.786 fibo. if bitcoin can stabilize above 54.7k (fibo) with today's daily candle, there's very good chance it can get back up to test missed trendline (red one) around 58k area in next few days and most likely we'll have another rejection there back to main trendline (green one) around 53k area. if we have one good rejection there again, we'll break out from orange bearish trend line and after retesting it's cross with green trend line, there'll be one good push for 70k - 80k area as 2021's ATH.
i will draw the messed up things i wrote here in an update after publishing this for better understanding what's going on in my head!
i wouldnt step into leverage positions for now.
dont forget this is personal idea and it shouldn't be used as signal or anything.
have a nice profits y'all.
Siavosh
looking at the daily chart, although below MA50, bitcoin instantly rejected from the main trendline that formed in december and is now above its 0.786 fibo. if bitcoin can stabilize above 54.7k (fibo) with today's daily candle, there's very good chance it can get back up to test missed trendline (red one) around 58k area in next few days and most likely we'll have another rejection there back to main trendline (green one) around 53k area. if we have one good rejection there again, we'll break out from orange bearish trend line and after retesting it's cross with green trend line, there'll be one good push for 70k - 80k area as 2021's ATH.
i will draw the messed up things i wrote here in an update after publishing this for better understanding what's going on in my head!
i wouldnt step into leverage positions for now.
dont forget this is personal idea and it shouldn't be used as signal or anything.
have a nice profits y'all.
Siavosh
Note
Note
it looks like bitcoin is still agreeing with us eh?Note
which scenario you guys think is going to happen? green, red or purple? or something else?
lets do a small discussion and chill abit!
Note
this is just the beginning of bitcoin's monster run.
E.M. can go f himself.lol
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