This is just an idea, I'm not a professional, just an amateur and this is an approximate TA without considering many other factors. Sorry about that.
That said, here my thoughts:
- we saw resistance at around 11.7k (see trend line in yellow)
- we saw a price drop till 8.5k
- I believe that bitcoin can reach 11.7k again
- I believe many people will take profits at around 11.5-11.7k
- because of the profits taken at around 11.5k, the price will drop, how much is always the big question (to re-buy the dip, of course)
- the "golden pocket zone" is the fibonacci zone between 0.5 and 0.618
- if you check other more expert and trusted crypto personalities online, you can see more bearish scenarios, that the price can drop back to 7k, even to 5k
- I believe it's possible that bitcoin will reach again 5k, but I believe it'll go back to 16-20k by the end of the year
- so basically now you can do some swing traded and get some profits with these corrections
- DYOR, do ladder buy and ladder sell, be cautious...
- good luck!
That said, here my thoughts:
- we saw resistance at around 11.7k (see trend line in yellow)
- we saw a price drop till 8.5k
- I believe that bitcoin can reach 11.7k again
- I believe many people will take profits at around 11.5-11.7k
- because of the profits taken at around 11.5k, the price will drop, how much is always the big question (to re-buy the dip, of course)
- the "golden pocket zone" is the fibonacci zone between 0.5 and 0.618
- if you check other more expert and trusted crypto personalities online, you can see more bearish scenarios, that the price can drop back to 7k, even to 5k
- I believe it's possible that bitcoin will reach again 5k, but I believe it'll go back to 16-20k by the end of the year
- so basically now you can do some swing traded and get some profits with these corrections
- DYOR, do ladder buy and ladder sell, be cautious...
- good luck!