Bitcoin in Bulkowski's Roof? Either we go to 6k or 20k
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It sure is not looking good for Bitcoin as of right now. Forks are happening, alternatives to Bitcoin are produced, money is flowing out during this holiday season and now the Bulkowski's Roof. Pattern usually is visible on daily charts and weekly charts. Here we have broken up into a 4 hour chart for easier ability to track where it goes. Best result in this current situation can be achieved upon a rapid rise in price upward, then we will be able to break that pattern and be home free.
Now here's good news... Most of Roof Patterns after being in a downtrend like we are in now, are followed by a sharp uptrend, that's why we have our price set at over 20,000
For future... at time the roof is confirmed which in our situation would have been at just over 19,000 - there is only 17% chance of it recovering back up which is what we have seen. From there it starts dropping, but as I already said, after roof cycle is complete, most likely it will be uptrend, but be careful investing before we actually get full confirmation on that. Remember that I said 'most of the time' meaning that a continuation of this cycle is still very possible.
Conclusion is that either way, we don't anticipate to see stability any time soon. That will either drop our Alts even further down or instead, investors might consider reinvesting due to Bitcoin's instability.
Now here's good news... Most of Roof Patterns after being in a downtrend like we are in now, are followed by a sharp uptrend, that's why we have our price set at over 20,000
For future... at time the roof is confirmed which in our situation would have been at just over 19,000 - there is only 17% chance of it recovering back up which is what we have seen. From there it starts dropping, but as I already said, after roof cycle is complete, most likely it will be uptrend, but be careful investing before we actually get full confirmation on that. Remember that I said 'most of the time' meaning that a continuation of this cycle is still very possible.
Conclusion is that either way, we don't anticipate to see stability any time soon. That will either drop our Alts even further down or instead, investors might consider reinvesting due to Bitcoin's instability.
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We are doing a temporary BUY as a test runملاحظة
Looks like we are taking a positive path up - watch closely until we reach over 16Kملاحظة
As we have predicted, it is on a 20,000 pathملاحظة
We should see it slow down at around 18,000 before making a leap to 20k because alts desperately need a recovery timeframe. Most look good in dollar price, but in satoshi, most coins are damagedملاحظة
Lets all wish for Bitcoin to stabilize nowملاحظة
Bitcoin will go for $19,000 and then all the way to just near $30,000 - BE PREPAREDATTENTION - THIS PROGNOSIS MAY CHANGE
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