Markets that run up crash down. We are at a pivot point and approaching a decision that will be made by the market. Not by the whales, not by the noobs, not by the hodlrs but by the market. If bitcoin falls below these levels this will send us to certainly break down and we will fail the retest of the previous bottoms of $6000 and $6,500.
If we are unable to hold these levels that I draw we wil lcertainly go into a longer term bear market.
According to my calculations that are based on how markets move, We are in a bubble market that was popped when we were pushing the $20,000 BTC levels. After this happened we have been bearish ever since and have shown absolutely no signs of us being able to resume these levels.
The following chart will indiciate where we are and what we need to do to break out of a down trend. Initially we are to retest $10,000 and break out which will be a very bullish signal for buyers to start rolling in all funds as this is the first barrier that needs to be crossed in order to break out.
As of now if you are looking to buy you need to understand that there are no clear signals to be bullish until there are. All trades that are taken should be bearish trades to the downside until we break out above the previous highs of $9000 and $10000 area.
Hope this helps keep your wealth safe!
If we are unable to hold these levels that I draw we wil lcertainly go into a longer term bear market.
According to my calculations that are based on how markets move, We are in a bubble market that was popped when we were pushing the $20,000 BTC levels. After this happened we have been bearish ever since and have shown absolutely no signs of us being able to resume these levels.
The following chart will indiciate where we are and what we need to do to break out of a down trend. Initially we are to retest $10,000 and break out which will be a very bullish signal for buyers to start rolling in all funds as this is the first barrier that needs to be crossed in order to break out.
As of now if you are looking to buy you need to understand that there are no clear signals to be bullish until there are. All trades that are taken should be bearish trades to the downside until we break out above the previous highs of $9000 and $10000 area.
Hope this helps keep your wealth safe!
