Bitcoinforecast
Bitcoin; what does the future behold?One of these 3 scenarios are primed to play out in my opinion.
Leverage trade it or dont, make sure to have some dry powder if one of this plays out.
Once again, I think this will be arranged to steal your coins before the biggest bull-run in human history begins.
Good Luck. Charts dont lie.
Reasons for bitcoin correction 5 reasons to book profit
1- declining RSI.
2- declining MACD.
3- Heavy resistance at 50-51,5 k USDT.
4- q3 closing in 3 weeks.
5- out of 6, the previous weekly candle closed in red causing resistance and a decrease in the Volume over 6 weeks duration.
your point of view or suggestions are most welcome
Bitcoin movement July , August Bitcoin Movement August month
From 37K to 50K
(13K Up Movement 50-37=13)
Bitcoin Movement July Month
From 29K to 40K
(13K Up Movement 40-29=13)
Expected movement for September month
Bitcon can reach at 58K to 60K
This chart is only for educational purpose.
If you like my chart give like or comment.
Bitcoin donation address.
13cDaWYHa5G4ckjYyXTBEH4ecg5ogSLYg6
💡Don't miss the great buy opportunity in BTCUSD @bitcoinTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (47888).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. BTCUSD is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 46.
Take Profits:
TP1= @ 50473
TP2= @ 52604
TP3= @ 54986
TP4= @ 58023
TP5= @ 59526
SL= Break below S2
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Bitcoin. To sum this up,In my opinion, one of these scenarios are primed to play out.
1 & 2.
1] (White fractal) suggests that this correction will end around $24K
Macro market structure would still be intact and it would still look like a typical correction that Btc goes through every bull cycle, however of a greater magnitude.
This would mark the bottom and we should head higher with good amount of consolidation.
>33k would be a early long trigger signifying its out of the "woods"
A "Zhupercycle" if you will.
2] (Red fractal), If Btc pierces through $20k fiercely, that would lead to a break in the market structure and would be a bearish confirmation for me personally.
Will look for exits around $28k then.
A full blown bear would take us to even $12k-$14k. Not praying for this in particular.
If any of the above scenario(or both) is to be invalidated, Btc is required to sustain above $33k.
Whichever way you plan to play this, think it through well, and more importantly, survive.
Godspeed.